Rupee To Underperform In 2023, Say Analysts. Other Predictions

Citi said Indian listed companies are adept at turning economic growth into earnings per share. Indian stocks that offered a refuge from losses that plagued global equity investors in 2022 look set to lose momentum next year as sky-high valuations weigh on market enthusiasm. That’s the consensus from analysts and strategists, who also expect the […]

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Rupee Falls 16 Paise To 81.96 After A Sharp Rebound In The Dollar

Rupee Today: Rupee weakens significantly against the dollar in early trade The rupee weakened in early trade on Tuesday as the dollar strengthened overnight after data showed services activity in the US picked up unexpectedly, offsetting the optimism surrounding China’s easing of its zero-COVID policy. Bloomberg showed the rupee was last changing hands at 81.9625 […]

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Rupee Nearly Flat At 81.25 Even As Dollar Languishes Near A 16-Week Low

Rupee Today: Rupee nearly flat on Friday The rupee reversed some of the gains from earlier in the session on Friday to close nearly flat against a dollar languishing near 16-week lows as investors eye the much-awaited US jobs data later in the day for clues on the peak in US interest rates. Bloomberg showed […]

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Is India’s Digital Rupee a Cryptocurrency? How to Use & Buy It Explained as RBI Launches CBDC Today

The Reserve Bank is set to launch the first pilot for retail digital rupee (e₹-R) on December 1, 2022, in which four banks including SBI and ICICI Bank will initially participate. On November 1, the RBI had launched the first pilot in the digital rupee – wholesale segment. Announcing the operationalisation of Central Bank Digital […]

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Reserve Bank of India, digital currency, e rupee, RBI Set To Launch Retail Digital Rupee Pilot: 10 Points

Retail digital rupee can, however, be converted into deposits with banks that earn interest. (File) New Delhi: Users can carry out transactions through digital wallets; only those digital wallets offered by banks participating in the RBI’s digital currency drive can transact in retail digital rupee. Come this Thursday, some customers in select cities can start transacting […]

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Govt Allows Trade Settlement In Rupee for Export Promotion Schemes; DGFT Notifies Norms

The Directorate General of Foreign Trade (DGFT) on Wednesday notified norms to allow exporters to avail incentives under the foreign trade policy, even on realisation in rupees. The DGFT, under the commerce ministry, has already allowed invoicing, payment and settlement of exports and imports in Indian rupee, a move aimed at facilitating trade in the […]

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Indian Importers Should Use Rupee’s Recovery To Hedge More: Report

The Fed is expected to hike rates by 75 bps next week. (File) Mumbai: Indian importers should take advantage of the rupee’s recovery against the dollar to hedge their liabilities due this year, analysts said on Thursday. The rupee was up at 82.3250 per U.S. dollar, compared with 82.7250 in the previous session and the […]

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Rupee Against Dollar: Rupee plunges 61 paise to dip below 83-mark for first time against dollar | India Business News

MUMBAI: The rupee plunged 61 paise to decline below the 83-mark for the first time against the US dollar on Wednesday amid unabated foreign capital outflows and a strong dollar in the overseas markets. Besides, rising crude prices in the international markets and risk-averse sentiment among investors weighed on the local currency, traders said. At […]

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Here’s What Nirmala Sitharaman Has to Say on Indian Rupee Dropping Against Dollar

As the rupee’s free fall against dollar continues and recently touched its all-time low at 82.68, Finance Minister Nirmala Sitharaman has said that the Indian currency performed better than others and it will find its own level. Sitharaman, who is on an official visit to the US till October 16, said that all currencies are […]

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Rupee falls 4 paise to close at all-time low of 82.34 against US dollar

MUMBAI: The rupee pared most of its initial losses and settled 4 paise lower at a fresh lifetime low of 82.34 (provisional) against the US dollar on Monday, weighed down by as risk-averse sentiment among investors. Moreover, a negative trend in domestic equities and a firm greenback overseas sapped investor appetite, forex traders said. At […]

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RBI Announces Digital Rupee. E-Rupee To Launch Soon On Pilot Basis

Reserve Bank has said it will launch digital Rupee or e-Rupee soon. Mumbai: The Reserve Bank of India today said it will soon commence the pilot launch of digital Rupee or e-Rupee for specific use cases as it tests digital currency in India. “As the extent and scope of such pilot launches expand, RBI will […]

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Rupee Closes At All-Time Low Of 82.33 Against The Dollar

Therupeehas fallen over 10% this year. New Delhi: The rupee plunged by 16 paise to close at an all-time low of 82.33 against the US currency on Thursday due to a surge in US bond yields, risk-averse sentiment among investors, and firm crude oil prices. The home currency was trading at 82.30 a dollar at 9:30 am, down 0.5% from its previous […]

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Sensex Falls 180 pts, Nifty Below 17,300; Rupee at Fresh Record Low

India’s rupee will trade near its record low against the mighty greenback beyond this year, buffeted by rising oil prices and an aggressive U.S. Federal Reserve rate-hiking campaign, according to a Reuters poll of FX strategists. Steamrolled by the Fed-pumped dollar, the rupee has fallen over 10 per cent this year and reached an all […]

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Rupee At 82 Level ‘Not A Bad Thing’, Says Zerodha Co-Founder Nikhil Kamath

Amid the fall in the rupee, Zerodha co-founder Nikhil Kamath on Thursday said the 82 level for the domestic currency is not “such a bad thing”. He also shared an infographic comparing the fall in the Indian rupee with that in Japanese yen, euro, Australian dollar, Pound Sterling, and Swiss Franc. “Rupee at 82 isn’t […]

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India heads for its third half-point hike as rupee slumps

NEW DELHI: The central bank is expected to increase its policy rate by half a point for the third time in a row as the currency’s plunge to a record low this month complicates the battle against inflation. The Reserve Bank of India’s six-member monetary policy committee will raise its repurchase rate by 50 basis […]

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RBI Heads For Its Third Half-Point Hike As Rupee Slumps To Record Lows

India heads for Its third half-point hike as rupee slumps India’s central bank is expected to increase its policy rate by half a point for the third time in a row as the currency’s plunge to a record low this month complicates the battle against inflation. The Reserve Bank of India’s six-member monetary policy committee […]

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Rupee nears 82/$, sensex slides for sixth day in row

MUMBAI: Continuing to weaken against the dollar, the rupee closed at a new life low of 81.94 against the US currency after nearing the 82-level in intraday trades on Wednesday. The rupee had closed at 81.58 Tuesday. Sensex dipped for the sixth straight session, closing 509 points down at 56,598 as foreign funds continued to […]

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Forex Reserves Set To Shrink Further On Record Low Rupee, Stir Memories Of 2008 Crisis: Report

Forex reserves set to shrink further, stir memories of 2008 crisis: Report BENGALURU: India’s depleted foreign exchange reserves are likely to drop further, falling to their lowest level in over two years by end-2022, as the Reserve Bank of India continues to defend the record low rupee from the mighty dollar’s rise, a Reuters poll […]

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RBI Likely Sells Dollars As Surging US Yields Hold Rupee Hostage: Report

The rupee was trading at 81.8675 per U.S. dollar, down from 81.58 in the previous session. MUMBAI: The Reserve Bank of India likely sold dollars via state-run banks on Wednesday as rising Treasury yields and mounting risk aversion pushed the rupee to a record low, traders said. The rupee was trading at 81.8675 per U.S. […]

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RBI May Need To Replenish Forex Reserves As Rupee Falls Further: Report

RBI may need to reload reserves as rupee falls further: HDFC Bank economist The Reserve Bank of India may need to find ways to replenish its foreign exchange reserves such as encouraging non-resident Indians to deposit more funds, as it looks to stabilise a depreciating rupee, HDFC Bank Chief Economist Abheek Barua said. The Indian […]

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