Almost two years after the Reserve Bank of India announced new steps for rupee-settled global trades, Russian banking major Sberbank said it has seen an uptick in volumes for rupee-rouble payments for Moscow’s imports, with the lender focusing on drawing more foreign clients to the domestic market. “Sberbank offers its corporate clients a convenient way … Read more
Mumbai: Unhedged currency-risk exposure of overseas funds has roiled India’s relatively calm sovereign bond market, hitherto in a one-way bull run ahead of favourable global index recasts, as the usually steady rupee abruptly slid to record lows on both onshore and offshore platforms Friday amid an evident risk-off sentiment worldwide. Foreign portfolio investors, having splurged … Read more
Mumbai: The rupee Wednesday closed at its strongest level versus the US dollar in six months as disappointing American economic data caused the greenback to weaken globally while overseas investors deployed funds in local capital markets. The domestic currency settled at 82.83 per US dollar on Wednesday, its strongest closing level since September 4, 2023, … Read more
Nifty ended with weekly gains of 0.75% with leadership taken by banks, auto and metals. When markets resume trading on Monday, a host of important domestic and global events lined up during the holiday-shortened week are likely to impact them. Commenting on the day’s trade, Rupak De, Senior Technical Analyst at LKP Securities said that … Read more
Mumbai: A narrower-than-expected trade deficit and higher services exports in January have prompted economists to scale down the current account deficit (CAD) estimates for FY24. Capital inflows through both foreign direct investment (FDI) and portfolio flows are expected to improve during the rest of the fiscal. But potentially higher foreign exchange inflows may not mean … Read more
India’s rupee will not drop past the 84-per-dollar mark even if the greenback strengthens further from current levels as the nation’s central bank will step in to defend the currency, according to Standard Chartered Plc. “The Reserve Bank of India has been protecting rupee from depreciating very sharply,” Parul Mittal Sinha, head of India financial … Read more
