Page 5 - Forex Market
RBI is anchoring expectations on rupee weakness, says Shaktikanta Das
He expects inflation to fall within tolerance band by January-March
 "RBI is anchoring expectations on rupee weakness, says Shaktikanta Das")
Forex reserves fall $6.7 bn to $564 bn in 7 days, at 2-yr low: RBI
The central bank has been selling dollars in the foreign exchange market aggressively to curb any sharp fall in the rupee, which is one of the main reasons for the reserves to fall
 "Forex reserves fall $6.7 bn to $564 bn in 7 days, at 2-yr low: RBI")
Surplus parked with RBI falls below Rs 1 trillion as liquidity shrinks
RBI's forex moves, strong credit off-take lead to faster liquidity decline
 "Surplus parked with RBI falls below Rs 1 trillion as liquidity shrinks")
Forex market intervention aims met with lower fall in reserves: RBI article
The RBI intervenes in the foreign exchange market through sales or purchases of dollars to curb excessive volatility in rupee
 "Forex market intervention aims met with lower fall in reserves: RBI article")
Govt bonds, rupee strengthen as crude prices plunge on growth concerns
A decline in domestic headline retail inflation to a five-month low in July also bolstered the appetite for bonds
 "Govt bonds, rupee strengthen as crude prices plunge on growth concerns")
Rupee falls as strong US jobs data rekindles fear of aggressive Fed hikes
The Federal Reserve has already raised interest rates by 225 basis points since March 2020
 "Rupee falls as strong US jobs data rekindles fear of aggressive Fed hikes")
Rupee gains vs dollar as weak US GDP data softens Fed rate hike view
Dollar index falls as a contraction in US GDP eases Fed hike fears
 "Rupee gains vs dollar as weak US GDP data softens Fed rate hike view")
New SEZ law to focus on job creation and research, not foreign exchange
The Bill shall propose the re-introduction of certain direct tax benefits, under which units set up in these development hubs shall attract a 15 per cent corporate tax until 2032
 "New SEZ law to focus on job creation and research, not foreign exchange")
Rupee at 80: What can be done?
We need to maintain the gap of interest rate differential with the US by raising rates in a measured way and allow the rupee to find its own level
 "Rupee at 80: What can be done?")
Rupee at 80: Neutral impact for India's pharma industry, say experts
India's pharma sector exported drugs worth Rs 1.8 trillion in 2021-22, while APIs worth Rs 30,000 crore were imported
 "Rupee at 80: Neutral impact for India's pharma industry, say experts")
Rupee at 80: Textiles, gems & jewellery upbeat, but gains may not sustain
Textile industry players indicate that the weak rupee will help the industry, which is a net exporter, to the extent of 5-10 per cent rise in profit margins
 "Rupee at 80: Textiles, gems & jewellery upbeat, but gains may not sustain")
Rupee declines to record low of 80.01 to a dollar as foreign funds exit
The currency has been buffeted by nearly $30 billion of foreign outflows from the nation's equities so far this year -- a record sum
 "Rupee declines to record low of 80.01 to a dollar as foreign funds exit")
Rupee settles at 79.98 against US dollar; briefly touches 80/USD mark
The dollar index was weak in Monday afternoon trade in Asia after several Federal Reserve officials signalled they did not favour stepping up the rate hiking pace, says an analyst
 "Rupee settles at 79.98 against US dollar; briefly touches 80/USD mark")
Rupee keeps off 80 per dollar; foreign exchange reserves at 15-month low
The country's foreign exchange reserves had declined by $8 billion in the week ended July 8 to hit a 15-month low of $580.25 billion as RBI stepped intervention in the forex market
 "Rupee keeps off 80 per dollar; foreign exchange reserves at 15-month low")
Rupee at lifetime low to hit imports, overseas education, travel
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price
 "Rupee at lifetime low to hit imports, overseas education, travel")
Rupee falls to 79.88 against dollar with 100 bps Fed hike on cards
The rupee was trading at 79.80 against the US dollar at 10.10am IST, compared to its close of 79.64 on Wednesday
Strength and opportunity: What rupee going 'international' will mean
The rupee is partially convertible. It attained current account convertibility in the early- through mid-1990s. This means the rupee can be converted to any foreign currency at existing market rates
Rupee drops to new low of 79.62 against USD amid domestic equities' losses
At the interbank forex market, the local unit opened strong at 79.55 against the greenback but could not hold on to gains and slipped in the negative territory
Top headlines: SC sentences Mallya to 4 months in jail; rupee hits new low
The Supreme Court (SC) on Monday slapped a fine of Rs 2000 ($25) and a four-month jail sentence on fugitive businessman Vijay Mallya
 "Top headlines: SC sentences Mallya to 4 months in jail; rupee hits new low")
Rupee rises 9 paise from record low to 79.24 against dollar in early trade
In initial trade, the local currency witnessed a high of 79.24 and a low of 79.31 against the US dollar
 "Rupee rises 9 paise from record low to 79.24 against dollar in early trade")
