Rupee http://www.globalpost.com/taxonomy/term/55274/all en India's rupee hits record low against the dollar http://www.globalpost.com/dispatch/news/afp/130610/indias-rupee-hits-record-low-against-the-dollar <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's rupee hit a record low of 57.54 against the dollar on Monday, on growing demand for dollars among oil importers, while the greenback was also boosted by upbeat US jobs data.</p> <p>The partially convertible rupee hit its previous low of 57.32 against the dollar on June 28 last year. On Monday it fell to a new record low before trading up slightly at 57.49 later in the morning.</p> <p>The fall is the latest blow to the damaged growth story of India, Asia's third-largest economy, which has also been beset by sharply slower growth, worsening public finances and political turmoil.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130610/indias-rupee-hits-record-low-against-the-dollar" target="_blank">read more</a></p> Currency Money Rupee AFP Mon, 10 Jun 2013 07:43:21 +0000 Agence France-Presse 5854030 at http://www.globalpost.com India's finance minister pledges more growth reforms http://www.globalpost.com/dispatch/news/afp/130614/indias-finance-minister-pledges-more-growth-reforms <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India may further raise caps on foreign direct investment to spur more inflows of funds, as part of efforts to kick-start the sluggish economy before next year's general elections, the finance minister said Thursday.</p> <p>Finance Minister P. Chidambaram also appealed for calm over the rupee, saying steps have been taken to halt the slide in the currency, which hit new lifetime lows this week, in part on concerns over the Indian economy.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130614/indias-finance-minister-pledges-more-growth-reforms" target="_blank">read more</a></p> Business Economy of India P. Chidambaram Rupee Technology AFP Sat, 15 Jun 2013 02:29:30 +0000 Agence France-Presse 5857478 at http://www.globalpost.com Rate cut off the cards as India looks to support rupee http://www.globalpost.com/dispatch/news/afp/130728/rate-cut-the-cards-india-looks-support-rupee <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's struggling economy is crying out for interest rate cuts to spur growth but with the rupee on the ropes monetary easing is out of the question at next week's central bank meeting, analysts say.</p> <p>From being an investor hot-spot, Asia's third-largest economy has been hit by capital flight even as it has been taking bold fresh steps to open its state-dominated economy to outsiders.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130728/rate-cut-the-cards-india-looks-support-rupee" target="_blank">read more</a></p> Central bank Currency Rupee AFP Sun, 28 Jul 2013 04:34:32 +0000 Agence France-Presse 5895761 at http://www.globalpost.com India's rupee hits record low against dollar http://www.globalpost.com/dispatch/news/afp/130806/indias-rupee-hits-record-low-against-dollar <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's rupee plunged to a fresh record low against the dollar Tuesday over concerns that foreign capital could flow back to the United States as the American economy picks up.</p> <p>The rupee, Asia's worst-performing major currency this year, hit 61.35 against the greenback in morning trade, below its previous low of 61.21 on July 8.</p> <p>Demand for the dollar has increased amid expectations of a sooner-than-expected scaling back of US stimulus as the American economy recovers, analysts said.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130806/indias-rupee-hits-record-low-against-dollar" target="_blank">read more</a></p> Currency Politics Reserve Bank of India Rupee AFP Tue, 06 Aug 2013 07:03:15 +0000 Agence France-Presse 5903451 at http://www.globalpost.com India industrial output tipped to fall, raising stakes for rupee http://www.globalpost.com/dispatch/news/thomson-reuters/130811/india-industrial-output-tipped-fall-raising-stakes-rupee <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Rajesh Kumar Singh</p> <p>NEW DELHI (Reuters) - India is expected on Monday to report a second straight contraction in industrial production in June, underscoring the challenge for policymakers to stabilize the battered rupee without hurting economic revival.</p> <p>A Reuters poll of 20 economists predicts output at factories, mines and utilities shrank an annual 1.2 percent, after unexpectedly falling 1.6 percent in May.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130811/india-industrial-output-tipped-fall-raising-stakes-rupee" target="_blank">read more</a></p> Currency Gross domestic product Rupee Thomson Reuters Sun, 11 Aug 2013 23:34:01 +0000 Thomson Reuters 5907572 at http://www.globalpost.com India inflation accelerates sharply in July http://www.globalpost.com/dispatch/news/afp/130814/india-inflation-accelerates-sharply-july <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's inflation accelerated sharply to close to six percent in July as a weak rupee pushed up import costs, data showed Wednesday, deepening worries about the slowing economy. </p> <p>The Wholesale Price Index, India's closest-watched cost-of-living gauge, rose to 5.79 percent from a year earlier, up nearly a percentage point from 4.86 percent the previous month.</p> <p>The July reading far outstripped market forecasts of a five percent year-on-year rise.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130814/india-inflation-accelerates-sharply-july" target="_blank">read more</a></p> Inflation Money Rupee AFP Wed, 14 Aug 2013 09:16:16 +0000 Agence France-Presse 5909614 at http://www.globalpost.com India slaps controls on forex outflows to boost rupee http://www.globalpost.com/dispatch/news/afp/130814/india-slaps-controls-forex-outflows-boost-rupee <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India slapped new controls Wednesday on foreign exchange outflows as it struggled to narrow a record current account deficit and arrest the fall of the rupee.</p> <p>The central bank announced that Indian firms can only invest 100 percent of their net worth abroad, down from an earlier 400 percent.</p> <p>Resident Indians now can only send out of the country $75,000 each year -- down from $200,000 annually, the bank said on its website, and the money cannot be used to buy property.</p> <p>"The present set of measures is aimed at moderating outflows," said the Reserve Bank of India.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130814/india-slaps-controls-forex-outflows-boost-rupee" target="_blank">read more</a></p> Currency Inflation Rupee Technology AFP Wed, 14 Aug 2013 16:18:17 +0000 Agence France-Presse 5909935 at http://www.globalpost.com India curbs FX outflows, targets gold imports in new rupee salvo http://www.globalpost.com/dispatch/news/thomson-reuters/130814/india-curbs-fx-outflows-new-rupee-salvo-inflation-spike-raises- <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Rafael Nam and Shamik Paul</p> <p>MUMBAI (Reuters) - India imposed restrictions on foreign exchange outflows and gold imports on Wednesday in a new attempt to prop up the rupee, as a spike in inflation added pressure on policymakers to curb a crippling external deficit.</p> <p>Finance Minister P. Chidambaram also reiterated his pledge to narrow the current account deficit - the main source of the rupee's weakness - to 3.8 percent of gross domestic product this fiscal year and said the currency would not be allowed to slide into "free fall".</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130814/india-curbs-fx-outflows-new-rupee-salvo-inflation-spike-raises-" target="_blank">read more</a></p> Economy of India Inflation Rupee Social Issues Thomson Reuters Wed, 14 Aug 2013 15:46:50 +0000 Thomson Reuters 5909899 at http://www.globalpost.com India's rupee hits new record low against dollar http://www.globalpost.com/dispatch/news/afp/130816/indias-rupee-hits-new-record-low-against-dollar <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's rupee plunged to a fresh record low against the dollar on Friday over fears that the central bank's measures may not be able to prop up the ailing currency, dealers said.</p> <p>The rupee, one of Asia's worst-performing currencies this year, hit a new low of 62.00 rupees to the greenback, slipping past its previous low of 61.80 rupees on August 6.</p> <p>The currency has been under pressure for several months on growing concerns that foreign capital could flow back to the United States as the American economy picks up.</p> <p>sal/amu/jw</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> Currency Money Rupee AFP Fri, 16 Aug 2013 06:32:01 +0000 Agence France-Presse 5911138 at http://www.globalpost.com India's rupee hits new record low against dollar http://www.globalpost.com/dispatch/news/afp/130819/indias-rupee-hits-new-record-low-against-dollar <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's rupee fell to a new low Monday on growing fears about the country's slowing economy and concerns that foreign capital could flow out as the US recovery picks up.</p> <p>The rupee, one of Asia's worst-performing currencies this year, fell to 62.35 rupees to the dollar, slipping past its previous low of 62.03 on August 16.</p> <p>Dealers said they feared the rupee could weaken further on concerns that central bank measures undertaken over the past three months would not help the ailing currency, dealers said.</p> <p>The unit has fallen nearly 14 percent against the dollar this year.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130819/indias-rupee-hits-new-record-low-against-dollar" target="_blank">read more</a></p> Currency Money Rupee AFP Mon, 19 Aug 2013 06:32:25 +0000 Agence France-Presse 5912653 at http://www.globalpost.com India's rupee slips to new record low against dollar http://www.globalpost.com/dispatch/news/afp/130820/indias-rupee-slips-new-record-low-against-dollar <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's rupee hit a new all-time low on Tuesday on continuing fears that recent measures to stabilise the currency and kickstart the country's flagging economy will not work.</p> <p>Asia's worst-performing currency this year slid to 64.05 rupees against the dollar, past its previous low of 63.22 struck the previous day.</p> <p>The rupee has fallen 16 percent against the dollar this year.</p> <p>Dealers said they feared the unit could weaken further and central bank measures undertaken over the past three months would not halt the slide.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130820/indias-rupee-slips-new-record-low-against-dollar" target="_blank">read more</a></p> Currency Money Rupee AFP Tue, 20 Aug 2013 06:00:41 +0000 Agence France-Presse 5913394 at http://www.globalpost.com India's rupee slips to new record low against dollar http://www.globalpost.com/dispatch/news/afp/130820/indias-rupee-slips-new-record-low-against-dollar-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's rupee hit a new all-time low against the dollar on Tuesday on continuing fears that recent measures to stabilise the currency and kickstart the flagging economy will not work.</p> <p>Asia's worst-performing currency this year slid to 64.11 rupees against the dollar, past its previous low of 63.22 the previous day.</p> <p>After hitting its new low, it strengthened marginally to 63.75.</p> <p>The rupee's fall has spilt over to the stock and bond markets.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130820/indias-rupee-slips-new-record-low-against-dollar-0" target="_blank">read more</a></p> Currency Foreign exchange market Law Rupee AFP Tue, 20 Aug 2013 07:46:25 +0000 Agence France-Presse 5913455 at http://www.globalpost.com India scrambles to stabilize falling rupee as crisis chatter roils markets http://www.globalpost.com/dispatch/news/the-canadian-press/130820/india-scrambles-stabilize-falling-rupee-crisis-chatter-roils <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>NEW DELHI - Indians returning from abroad bring nearly 3,000 flat screen televisions into the country a day, turning airport luggage belts into revolving electronics displays. A stiff new customs duty aims to sink that popular trade as officials scramble to halt a dizzying plunge in the rupee.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130820/india-scrambles-stabilize-falling-rupee-crisis-chatter-roils" target="_blank">read more</a></p> Currency Economy of India Rupee The Canadian Press Tue, 20 Aug 2013 14:46:56 +0000 The Canadian Press 5913728 at http://www.globalpost.com India's rupee skids to new record low against dollar http://www.globalpost.com/dispatch/news/afp/130822/indias-rupee-skids-new-record-low-against-dollar <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's rupee tumbled to a new record low against the dollar on Thursday as uncertainty about the future of the US stimulus programme added to growing fears about the state of the Indian economy.</p> <p>Closely watched minutes from the US Federal Reserve were unable to shed any light on when the bank will begin winding down its bond-buying scheme, which has helped fuel an investment splurge in Asia's emerging markets.</p> <p>The rupee sank to 65.04 against the dollar in early trade despite suspected interventions by the Reserve Bank of India (RBI) to try to halt the slide this week.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130822/indias-rupee-skids-new-record-low-against-dollar" target="_blank">read more</a></p> Economy of India Reserve Bank of India Rupee AFP Thu, 22 Aug 2013 09:31:51 +0000 Agence France-Presse 5915178 at http://www.globalpost.com India finance minister seeks relief for rupee http://www.globalpost.com/dispatch/news/afp/130824/india-finance-minister-seeks-relief-rupee <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's finance minister P. Chidambaram met with top bankers Saturday to discuss ways to boost the weak rupee and bring in more foreign capital to bridge a trade gap that has put pressure on the currency.</p> <p>Chidambaram was accompanied by top officials at the meeting in India's financial hub of Mumbai with representatives of leading private and public sector banks.</p> <p>As the US economy picks up, the Federal Reserve is expected to start winding down its bond-buying stimulus scheme which has helped fuel an investment splurge in Asia's emerging markets.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130824/india-finance-minister-seeks-relief-rupee" target="_blank">read more</a></p> Currency Money Rupee AFP Sat, 24 Aug 2013 13:56:54 +0000 Agence France-Presse 5916818 at http://www.globalpost.com