Page 3 - Currency

Rupee gives up early gains, drops 6 paise to close at 86.89 against dollar

Bids in VRR auction fall short of notified amount of Rs 2.5 trillion

Govt not worried about rupee volatility: Finance and Revenue Secy Pandey

This statement comes after the rupee fell to a record low of 87.29 against the US dollar, depreciating by 67 paise in early trading

India's rating upgrade challenge as debt woes trump fiscal prudence: Fitch

In August, Fitch affirmed India's long-term foreign currency issuer rating at 'BBB-' with a stable outlook, citing a strong medium-term growth outlook

50:50 chance: Will RBI cut rates, infuse liquidity amid currency pressure?

It can, if it is convinced that the adjustment in the rupee valuation has already been done and the local currency has found its own level

Rupee rises 14 paise to 86.46 against US dollar in early trade today

Rupee appreciated 14 paise to 86.46 against the US dollar in morning trade on Monday, tracking a positive trend in domestic equities and Asian currencies. Forex traders said factors like elevated Dollar Index level as well as surging crude oil prices pose significant headwinds for the USD/INR pair. At the interbank foreign exchange, the rupee opened at 86.48 and touched 86.46 against the greenback, registering a gain of 14 paise over its previous close. On Friday, the rupee had settled at 86.60 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.22 per cent at 109.10. Brent crude, the global oil benchmark, fell by 0.12 per cent to USD 80.69 per barrel. The overall strength of the American currency and elevated crude oil prices are likely to strain India's trade balance, creating challenges for sustained rupee appreciation, forex traders said. As Asian currencies rose Indian rupee ope

RBI likely sold dollars heavily before local spot market open, say traders

The rupee was last quoted at 86.5150 per US dollar as of 09:35 am IST, up nearly 0.1 per centon the day

Rupee logs steepest fall in two years, hits record low of 86.58/$

The rupee weakened to 86 per dollar from 85 in just 16 trading sessions. In contrast, its movement from 84 to 85 took 46 working days, while the shift from 83 to 84 happened in 478 days

Best of BS Opinion: Risks and Outcomes in an Uncertain Future

Here's a quick capsule of the best of Business Standard's opinion pages today for your quick reading.

Stop-start in currency volatility: Markets deliver consistent daily shifts

Policymakers can get export growth for some time through subsidies, whether a production-linked incentive or a falsified exchange rate

Banks urge RBI to inject liquidity via foreign-exchange swaps amid crunch

The higher financing costs are posing a challenge for the RBI to support an economy that's witnessing a slowdown in manufacturing activities

Increase in rupee volatility in Dec shows little signs of abating

Implied volatility over 3-month, 6-month period remains elevated

Rupee hits new low for sixth straight session; settles at Rs 85.20

Liquidity deficit widens to 7 month high

Rupee defence strategy: Why RBI should embrace currency flexibility

India now holds about $650 billion in reserves, enough to finance nearly a year of imports. The problem is that global financial markets have even more firepower

Rupee remains under pressure, touches new low of 85.12 per dollar

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

India's foreign exchange reserves decline to 5-month low of $654.8 billion

The RBI is expected to have sold net dollars worth $61.1 billion to protect the domestic currency

Trump's trade adviser warns against China's attempt to manipulate currency

Peter Navarro, Trump's new senior counselor for trade and manufacturing, said White House would not interfere with the Treasury's review to see foreign trade partners are not manipulating currencies

Rupee stares at 85 against dollar amid GDP worries, hits fresh low of 84.70

Falls 21p to new low of 84.70; RBI has limited intervention room

Trump's threat of 100% customs duties on Brics nations unrealistic: GTRI

The warning of US President-elect Donald Trump to BRICS countries to impose 100 per cent customs duties if the BRICS group would replace the US dollar is unrealistic, and India should focus on developing a workable local currency trading system, think tank GTRI said on Sunday. BRICS, formed in 2009, is the only major international group of which the US is not a part. Its other members are South Africa, Iran, Egypt, Ethiopia, and the UAE. Over the past few years a few of its member countries, in particular Russia and China, are seeking an alternative to the US dollar or creating their own BRICS currency. India has so far not been part of the move. On Saturday, Trump warned BRICS nations against such a move. The Global Trade Research Initiative (GTRI) said that tariffs of this scale would harm the US consumers only as it would push prices on imports, disrupt global trade, and risk retaliation from key trading partners. "Trump's threat to impose 100 per cent tariffs on countries adopt

Donald Trump's tariff vow hits Mexican, Canadian currencies, yen firm

Dollar jumped more than 2.5 per cent against the peso to its highest since July 2022 in New York afternoon trade

CEA advises India Inc not to seek protective cover of weak currency

Chief Economic Advisor V Anantha Nageswaran on Thursday advised India Inc not to seek protective cover of weak currency as it is not a substitute for productivity and investment in research and development. A weak currency can be good for exporters, making their products relatively less expensive for buyers abroad. Nageswaran further said the reliance on weak currency should not be instrumental to boosting exports, "if anything, it should be part of the policy arsenal to be deployed contextually, but not as a substitute for productivity, investment in R&D and quality, but as a complement at best". Nageswaran further said the reliance on weak currency should not be the answer, if anything it should be part of the policy arsenal to be deployed contextually, but not as a substitute for productivity, investment in R&D and quality, but as a complement at best. "We should not be thinking about in terms of the transformation of competitiveness, which is to continuously expect the ...