New Delhi, March 31 (IANS) India’s foreign‑exchange reserves of over $700 billion are large enough to deter speculative moves and allow the Reserve Bank of India to intervene to stabilise the rupee, a report said on Tuesday.The report from SBI Research said current reserve levels are equivalent to more than 10 months of imports and that short‑term debt is below 20 per cent of reserves, providing room and time to intervene in the market to prop up the rupee if it is so desirable.The researc…
Latest rupee News & Updates
New Delhi, March 30 (IANS) The Indian rupee opened higher by 1.3 per cent to reach 93.59 per US dollar on Monday over the Reserve Bank of India’s (RBI) restrictions on onshore position limits.The RBI has instructed banks to limit their net open positions in rupees in the foreign exchange market to $100 million, in a bid to curb speculative trading to cap decline in the Indian rupee.It ordered banks acting as authorised dealers to limit their end‑of‑day open positions in the onshore rupee t…
Mumbai, March 29 (IANS) The Indian stock market ended the week on a weak note, extending its losing streak for the fifth straight week, as rising crude oil prices, a falling rupee and escalating tensions in the Middle East dampened investor sentiment. These global factors are now expected to remain the key triggers for market movement in the coming week.On Friday, (March 27), both benchmark indices — Sensex and Nifty — saw sharp declines of over 2 per cent each.The Sensex plunged 1,690 points,…
New Delhi, March 25 (IANS) International crude oil prices witnessed a sharp decline on Wednesday amid growing hopes of a ceasefire in the West Asia region.Brent crude futures fell 7 per cent to an intraday low of $97.18 per barrel, while US WTI crude dropped over 6 per cent to $86.72 as of 10:40 AM.Experts said the recent correction in crude prices could offer some relief to India’s macroeconomic indicators, including inflation and the Current Account Deficit (CAD), even as technical indicator…
Mumbai, March 24 (IANS) Indian stock markets ended the session on a strong note, with benchmark indices closing near their day’s highest levels, supported by gains in auto and banking stocks.Positive sentiment among investors was also driven by hopes of easing geopolitical tensions between the United States and Iran, despite mixed signals from both sides.The Nifty rose sharply by 399.75 points, or 1.78 per cent, to settle at 22,912.40. The Sensex also posted solid gains, climbing 1,372.06 poin…
Mumbai, March 23 (IANS) Gold and silver prices in India traded sharply lower on Monday, tracking weakness in global bullion markets amid rising concerns over inflation and potential interest rate hikes following escalating US-Iran tensions.On the Multi Commodity Exchange (MCX), gold futures dropped steeply at the opening. Gold futures (April 2) fell as much as 5.59 per cent, or Rs 8,089, to hit an intra-day low of Rs 1,36,403 per 10 grams by 9:40 am, while silver declined 6.63 per cent, or Rs 15…
New Delhi, March 21 (IANS) India’s overall economic position remains stable despite rise in fuel prices, and crude oil prices will be crucial in shaping the country’s external balance in FY27, a report said on Saturday.A sustained rise in global crude oil prices could widen India’s current account deficit (CAD), the report from Brickwork Ratings said.Rising crude prices are likely to weigh on growth and inflation, the report said, adding that India’s CAD is estimated at 1.3 per cent of G…
Mumbai, March 12 (IANS) Indian benchmark equity indices ended lower on Thursday as volatility in global oil prices dampened investor sentiment and triggered selling across sectors.The Nifty declined 0.95 percent, or 227.70 points, to close at 23,639.15. Meanwhile, the Sensex fell 1.08 percent, or 829.29 points, to settle at 76,034.42.Commenting on Nifty technical outlook, experts said that on the downside, 23,500 and 23,000 remain key demand zones, supported by strong put open interest that coul…
Mumbai, March 12 (IANS) Amid the fuel crisis due to the escalation of the Gulf war, Shiv Sena Uddhav Balasaheb Thackeray (UBT) on Thursday mocked the BJP-led government’s “gutter gas” research, claiming that it exposes the disconnect between the government’s optimistic claims and the reality of the economic downturn.As the conflict between Iran and Israel intensifies, the Indian economy is facing severe strain, with the rupee hitting a record low and domestic fuel shortages beginning to bi…
New Delhi, March 11 (IANS) Strong services exports and steady remittance inflows could help cushion the impact of rising crude oil prices on India’s economy, even as the country remains heavily dependent on imported energy, a report showed on Wednesday.According to the report by DSP Netra, crude oil continues to be one of the most critical variables for India’s macroeconomic stability, particularly as the rupee has weakened recently amid rising global oil prices.India consumes about 5.3-5.5 …