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Image used for representational purpose. | Photo Credit: Reuters The rupee appreciated 3 paise to 83.42 against the U.S. dollar in early trade on May 6, supported by a firm trend in domestic equities. Forex traders said the strength of the American currency in the overseas market and foreign fund outflows weighed on the local…
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Image used for representational purpose. | Photo Credit: Reuters The rupee depreciated 3 paise to 83.48 against the U.S. dollar in early trade on April 30 amid a strong American currency against major Asian rivals and an upward movement in the crude oil prices. However, positive sentiment in the domestic equity markets and some inflow…
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Image used for representational purpose. | Photo Credit: Reuters The rupee rebounded from its all-time low levels and appreciated 12 paise to 83.49 against the U.S. dollar in early trade on April 18, supported by a firm trend in domestic equities and tracking gains in Asian currencies. Forex traders said the local unit gained ground…
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Gopalpur port. | Photo Credit: Special Arrangement The Shapoorji Pallonji Group has announced the sale of its brownfield Gopalpur Port to Adani Ports and SEZ Ltd for an enterprise value of ₹3,350 crore. “The under construction Gopalpur Port, located in Odisha, was acquired in 2017, with significant issues hampering its development. Post acquisition, the Shapoorji Pallonji Group commenced…
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Image used for representational purpose only. | Photo Credit: Reuters The rupee declined 20 paise to 83.33 against the U.S. dollar on March 22 due to a stronger greenback in the global markets and dollar buying by importers. At the interbank foreign exchange market, the local unit opened lower at 83.28 against the previous close…
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Image used for representational purpose only. | Photo Credit: Special Arrangement The rupee appreciated by 2 paise to trade at 82.84 against the U.S. dollar in the opening session on March 18 following foreign fund inflows. An uptick in crude oil prices and listless trade in domestic stocks capped rupee gains in opening trade, forex…
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Tipping points: U.S.’s rivalry with China, Ukraine war fuel talk of moving away from the dollar. | Photo Credit: AFP Once hurt by crises and deflation, the euro is gaining popularity among central bank reserve managers on a return to positive rates and geopolitics challenging dollar’s appeal. About one in five of the 75 central…
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File picture of RBI Governor Shaktikanta Das, who said that India accounts for 40% of all digital payments in the world | Photo Credit: ANI Reserve Bank of India Governor Shaktikanta Das said on Monday that digital transactions in India have grown 90-fold in 12 years. Mr. Das was speaking at the RBI headquarters in…
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On May 19, 2023, RBI announced withdrawal of ₹2,000 denomination banknotes from circulation. File. | Photo Credit: R. RAGU The growth in currency in circulation decelerated to 3.7% for the week ended February 9 from 8.2% a year ago, reflecting the impact of the decision of the Reserve Bank of India (RBI) to withdraw ₹2,000…
Representational image of people walking past the Bank of England in the City of London financial district in London, Britain | Photo Credit: Reuters The U.K. economy slipped into a “technical” recession in 2023, with the final quarter for last year showing a decline in GDP of 0.3%, on the back of a 0.1% decline…
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