Rupee Fall

I-T dept receives 24 enquiries from Indian subsidiaries, permanent establishments of foreign firms

At the interbank foreign exchange market, the rupee opened weak and slipped to the 72-mark

The upcoming data will likely show the economy had its weakest performance last quarter in more than six years, with the growth rate dropping below the symbolically important 5% mark

Finance Minister Nirmala Sitharaman said this week she's not closing the door on additional steps to support the economy.

Dollar index, which measures the greenback's strength against major global currencies, rose 0.05% to 98.35

FPIs have turned negative and the budgetary announcement on tax surcharge has been a factor that has restricted their activity

The rupee's fall, though, was the sharpest in the region, followed by the Indonesian rupiyah, which lost 0.52 per cent

Higher pricing pressures in legacy business and rising costs of delivery have been negating margin benefits from rupee depreciation over the last two years

Sovereign borrowing abroad could make the currency more volatile in the future

The slew of measures recently set in motion by the government are mainly to conserve dollar spend and to encourage dollar inflow to dress up the rupee

The fact that we are much better protected today might just explain the RBI's reluctance to bring in a biggish chunk of dollars from NRIs either through bonds or dollar deposits as it did in 2013

The Indian rupee Monday crashed below the 72-mark to end at a life-low of 72.45 against the US dollar

The Congress on Saturday hit out at the BJP for its "stoic silence" on key issues like the falling rupee, rising fuel prices and the alleged Rafale scam, dubbing it as the "Bahut Jhoothi Party" (party of liars). Congress' chief spokesperson Randeep Singh Surjewala said the ruling Bharatiya Janata Party (BJP) had failed to address the issues concerning the country and the party's motto was to "Break, Jam and Perish." "BJP's stoic silence on real issues like petrol hike, inflation, falling rupee, failing economy and Rafale Scam has once again proved its indifference to sufferings of people," Surjewala tweeted. "BJP now stands for -'Break, Jam & Perish'. Breaking - the backbone of India's MSME's & shopkeepers through flawed GST, jamming - the economy through Demonetisation disaster, perish - the future of youth & farmers," he said in another tweet. Surjewala alleged that in the 52 months that the BJP has been in power, it has "delivered division, deception, double speak ...

Mukherjea explains why the markets are set for an interesting nine months

The currency's fall should be eased

In a bid to stem rupee's loss, the RBI has started intervening in the currency markets, but whether it can do enough at a time when US dollar has started rising, remains to be seen