Rupee had a major fall this week, led by strong US macro data, rising crude prices. China's currency moves, Japan’s possible rate hike & domestic growth concerns may maintain pressure.
Many who were so worried about the decline in the rupee over a decade ago are unwilling to speak up. They were tigers when Manmohan Singh was in charge. Now they are mice.
RBI has ensured that $9 billion has been made available at overseas branches of some Indian banks for the country's three state-run refiners to tap, according to sources.
India’s macroeconomic fundamentals continue to remain strong. Going forward, the recent moderation in the international commodity prices should slow down the slump.
RBI hopes to boost forex inflows and stem rupee slump. But rupee likely to remain under pressure amid tighter global financial conditions & interest rate hikes by US Fed.
The Reserve Bank of India has run down its forward-dollar book by $12 billion to $15 billion from about $64 billion at the end of April, according to estimates by DBS Bank Ltd.
The bearish forecasts stem from a deterioration in India’s external finances. Higher oil prices threaten to widen the current-account deficit to at least 3% of the GDP.
In tactical terms, the shirtless protest was worse than a self-goal. Suddenly, the fiascos of the AI Summit were forgotten, and the Youth Congress’s disruption became the issue.
IAF is fine with accepting the aircraft with 'must-haves', even if some other steps remain pending, which may take at least another year, it is learnt.
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