India's forex reserves rose for a second week, increasing by $5.98 billion & stood at its highest since early July, according to RBI's statistical supplement. The rupee ended at 82.16 Friday.
After a week of turmoil in markets over bank failures in major economies, Asian shares and currencies rebounded on Friday, as the dollar index fell 0.3%.
The rupee was down 0.5% to the dollar and has been an underperformer among Asian peers. The offshore Chinese yuan was up 0.9%, leading Asian currencies higher.
Majority of the country's deficit is due to negative balance in merchandise account. India usually runs a surplus in services & remittances, but incurs deficit in trade of merchandise.
ThePrint analysed exchange rate & trade data from April 2012 to September 2022, which shows there’s little relation between the rupee movement and performance of exports.
The Delhi CM said 'India will prosper' if photos of the deities are put on the notes. He also cited the example of Indonesia, a Muslim nation, that has a Ganesha on its currency note.
The rupee is tipped at around 82.82-82.86 to the dollar at open compared with 82.76 in the previous session. On Thursday, rupee dipped to a record low of 83.25.
Mumbai: The Indian rupee could drop to 84-85 to the dollar by March due to rising crude oil prices, high trade deficit and depleting foreign exchange reserves,...
The minerals that Pakistan purports to offer to the US are either in quantities too small to matter, of a type that the US does not need, or would be much more easily sourced from other partners.
Open to public feedback until 26 November, the revised guidelines, among other changes, give CA firms more flexibility to advertise & promote their services.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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