Shaktikanta Das - Financial Daily News Site

RBI may need to tweak forex strategy, let rupee weaken, say analysts

Photo: Bloomberg

By Swati Bhat MUMBAI (Reuters) – India’s central bank may need to change the way it seeks to slow the rupee’s decline, analysts and traders say, with its current method of intervention in the forwards market now only accelerating the currency’s fall. The rupee has hit … Read more

Economic revival steady, RBI calming inflation: Governor

Economic revival steady, RBI calming inflation: Governor

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

RBI may have boosted forwards intervention to slow rupee fall, save reserve

Photo: Bloomberg

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

Rupee closes flat at 77.66 against US dollar

FOREX-Dollar eases as traders scale back bets on Fed tightening

The rupee closed unchanged at 77.66 against the US dollar in muted trade on Monday as participants largely stayed on the sidelines ahead of the RBI’s policy decision later this week. While the domestic unit gained initially amid a weak American currency in the overseas market, elevated crude oil prices, unabated foreign capital outflows and … Read more

India GDP news: Unfavourable environment for EMs like India: Rob Subbaraman, Nomura

India GDP news: Unfavourable environment for EMs like India: Rob Subbaraman, Nomura

“Emerging markets are going to struggle. It is a pretty unfavorable environment for emerging markets such as India, which is dependent on energy and some food imports” Rob Subbaraman, Chief Economist and Head of Global Markets Research for Asia (ex-Japan) at Nomura, in an interview with Anand JC explains why emerging markets are in trouble, … Read more

RBI’s basket of forex assets to widen amid uncertainty

RBI’s basket of forex assets to widen amid uncertainty

TNN Mumbai: The Reserve Bank of India (RBI) will explore portfolio diversification through new asset classes and fresh markets for foreign exchange reserves management, the central bank has said. During FY22, the RBI added 61.6 metric tonnes (MT) of gold, due to which its total yellow metal holdings increased to 760MT. The addition of gold, … Read more