rupee news: Rupee faces further losses after series of lows, says StanChart

The Indian rupee tested a series of record lows in recent weeks and Standard Chartered Plc. foresees more losses for the currency in the coming months. “The main two factors that are building up that can weaken the rupee are mainly on the worsening trade and capital flow dynamics,” Parul Mittal Sinha, head of India … Read more

Govt watchful, mindful of impact of declining rupee on imports: Sitharaman

The government is watchful and mindful of the impact of falling rupee on the country’s imports, finance minister Nirmala Sitharaman said, while asserting that Indian currency has performed relatively better than others against dollar. Depreciation of rupee makes India’s imports costlier, while on the other hand exports become attractive. … Read more

India raises import tax on gold to support rupee

Breadcrumb Trail Links PMN Business Author of the article: Publishing date: Jul 01, 2022  •  18 minutes ago  •  2 minute read  •  Join the conversation Article content MUMBAI — India has raised its basic import duty on gold to 12.5% from 7.5%, the government said on Friday, as the world’s second biggest consumer of the … Read more

More pain for rupee likely on India’s trade gap, capital outflow

India’s ballooning trade gap and capital outflows are raising new risks for the rupee, just as the currency’s plunge to a record low adds to inflation woes.“India’s external balances are deteriorating,” economists at Goldman Sachs Group Inc. wrote in a note Thursday, citing the terms-of-trade shock from higher commodities prices and weakening global growth. “Going … Read more

Rupee rate today: Rupee weakens beyond 79 per dollar to hit record low, seen falling more

The Indian rupee weakened past 79 per dollar, plumbing record lows in early trade, as investors retreated from Indian share markets on Friday with the greenback staying strong against major peers due to prospects for higher U.S. interest rates and fears of a widespread recession. By 0352 GMT, the partially convertible rupee was trading at … Read more

Rupee relatively better placed than other global currencies against USD: FM

Amid the rupee declining against the US dollar, Finance Minister Nirmala Sitharaman on Thursday said the Indian currency is relatively better placed than other global currencies against the greenback. Emerging market currencies have been falling against dollar amid geopolitical tensions in the wake of the Russia-Ukraine war, concerns over … Read more