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Sounding a red alert on India’s consumer price index (CPI) inflation at an 8-year high print of 7.79 per cent YoY in April, Acuite Ratings has said it may trigger quicker rate hikes.
India is trying to “address volatility” in the Indian rupee that has tumbled to record lows against the dollar in recent weeks, a government official said on Monday,
Physical gold demand improved slightly in India and discounts narrowed this week after prices eased, while concerns over fresh coronavirus outbreaks kept a leash on activity in China.
The Indian rupee will trade between Rs 79.50-Rs 80.50 against the US dollar next week, a senior official of LKP Securities said on Friday. On Friday during the early trade,
The Indian rupee ended at a record closing low against the dollar on Monday as continued foreign portfolio outflows from domestic stockmarkets and a broadly stronger greenback weighed on the currency
The Reserve Bank of India (RBI) on Monday announced an additional framework for invoicing, payment, and settlement of exports/imports in Indian rupees.
The partially convertible rupee ended at Rs78.9650/9750 per US dollar (Dhs21.49) after touching a lifetime low of Rs78.97. The currency had closed at Rs78.77 on Tuesday.
India’s forex reserves rose $2.4 billion during the week ending July 29 after falling for the four consecutive weeks. The rise was seen on back of positive inflows by the foreign investors in the Indian equity market.
