While GDP growth has been robust, punitive US tariffs and weak capital flows have piled pressure on the rupee. It’s down 5.3% this year, the steepest annual fall since 2022.
The Russia-Ukraine crisis has led to a rush towards safe haven assets such as gold and the US dollar. Investors are selling riskier assets such as Indian equities.
The prospect of a rare current-account surplus following robust foreign inflows & global oil-price collapse will help nudge the rupee higher, analysts say.The prospect of a rare current-account surplus following robust foreign inflows & global oil-price collapse will help nudge the rupee higher, analysts say.
Forex traders said positive start of domestic stocks and improved market sentiments with countries gradually lifting lockdowns supported the local unit.
The maiden dollar-rupee swap conducted by the RBI last week helped foreign exchange reserves swell by a healthy $5.237 billion to $411.905 billion in the week to 29 March.
‘Mother kept pouring water in our eyes whenever the burning became unbearable. She pushed our bodies deep into the blanket, making sure not a single part was exposed,’ my father said.
December oil imports from Russia may drop nearly 50%, but Indian buyers already shifting to non-designated Russian entities and opaque trading channels to keep Russian oil flowing.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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