The Indian rupee has weakened by about 5% over the course this year so far, in response to domestic and global factors. While it is widely expected that this weakening pressure on our currency will continue, the moot question is how much it can weaken and what it could do to the Indian economy and … Read more
India added $47.5 billion to the foreign exchange reserves last fiscal, down nearly half the previous year. But a drill down of the data reveals that nearly $26 billion of those incremental reserves were due to the sanction of Special Drawing Rights by the IMF and revaluation of gold reserves. Net of valuation losses only … Read more
Food aggregator platform Zomato’s board approved the acquisition of quick-commerce company Blinkit for Rs 4,447 crore (around $567 million) in an all-stock deal. Zomato will be acquiring 33,018 equity shares of Blink Commerce Pvt Ltd (BCPL). The Reserve Bank of India’s (RBI’s) move to disallow loading prepaid payment instruments (PPIs) from … Read more
Retail inflation will likely get back to the mid-point of the Reserve Bank of India’s (RBI) medium-term target of 2-6% in two years, given the raft of measures initiated by the monetary and fiscal authorities, deputy governor Michael Patra said on Friday. He expressed optimism that the “required monetary policy actions in India will be … Read more
TNN Mumbai: The Reserve Bank of India (RBI) plans to undertake fewer rate hikes than other markets and bring back inflation within its target in two years, a top official said on Friday. At the same time, it hopes that inflation can ease earlier if the monsoon brings in a more benign outlook on food … Read more
India’s foreign exchange (forex) reserves dipped for the third consecutive week to $590.588 billion in the week ending June 17, 2022. All components in the forex reserves have dropped with foreign currency assets witnessing a massive fall. RBI’s weekly statistical data shows total forex reserves dipped by $5.870 billion to $590.588 billion in the week … Read more
MUMBAI: The revival of economic activity continues to be steady and is gaining traction, and RBI is on track to bring down inflation and inflationary expectations, governor Shaktikanta Das has said. “GDP has exceeded 2019-20 levels, and from April 2022 onwards, many high-frequency indicators we monitor are showing steady improvement. The economy is back on … Read more
A shortage of cash dollars and forward market intervention by the Reserve Bank of India which has pushed onshore 1-year forward premiums to their lowest levels in more than a decade could pressure the rupee to new lows, traders and analysts said. The one-year annualised forward premium stood at 2.91% at 0830 GMT, compared to … Read more
India’s central bank appears to have ramped up intervention in the forwards market to slow the rupee’s decline and preserve its hard-earned reserves. 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 … Read more
India’s central bank appears to have ramped up intervention in the forwards market to slow the rupee’s decline and preserve its hard-earned reserves. 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 … Read more