Anjali Kumari
Anjali Kumari
Weakens below 85.8 intraday, RBI does rescue act
Excessive intervention by the RBI could be counterproductive, particularly if other central banks allow their currencies to weaken, and could even affect rupee liquidity
The local currency had settled at Rs 85.20 per dollar on Wednesday
In April - September period of FY24, while there were 14,480 incidences of frauds, the amount involved was only Rs 2,623 crore
REER represents the inflation-adjusted, trade-weighted average value of a currency against its trading partners
The rupee had breached the 84 per dollar mark on October 11 of the current year
Liquidity deficit widens to 7 month high
The local currency had settled at 85.02 per dollar after choppy trading on Friday, touching 85.11 per dollar before regaining ground against the greenback on the back of FTSE rebalancing inflows
Finance Minister Nirmala Sitharaman had in September launched NPS Vatsalya, a scheme for minors to secure their future
Market participants said that the price difference is largely driven by heavy supply, timing mismatches in fund flows, and rising global interest rates
Both indices below 200-DMA; equity investor losses mount to Rs 18.4 trn in 5 days
The reserves stood at $655 billion in the week ended December 6, having declined by $3.2 billion during that week
According to a dealer at a state-owned bank, some of the AAA-rated issuers who tapped the market today were expecting to raise funds at the levels they normally raise
The rupee had settled at Rs 85.07 per dollar on Thursday
India, US bond yield spread narrowest in nearly 20-yr; Sensex slips below 80K after 4 days of equity selloff
India's foreign exchange reserves have declined by $50 billion this quarter as of December 13, according to the latest RBI data
IIFCL Rs 1,290 crore in two tranches with varying maturities
RBI sold dollars via state-run banks, which avoided further depreciation, said dealers
Market participants said that the company did not raise the entire amount as the investors were demanding a higher coupon
Investors await Fed move; concerns grow over widening trade deficit