The Indian rupee strengthened against the US dollar for the second consecutive session, driven by a significant drop in crude oil prices and supportive measures from the Reserve Bank of India. The currency closed at 94.71, reaching a five-week high.
Indian banks are significantly increasing interest rates on foreign currency deposits for Non-Resident Indians, with some hikes reaching 350 basis points. This follows the RBI's decision to bear hedging costs for longer-term deposits to attract dollar inflows and support the rupee.
The Indian rupee is forecast to average 96 against the US dollar in FY27, facing risks from dollar strength and oil prices. Despite a widening trade deficit, strong capital inflows and RBI intervention are expected to stabilize the currency.
India's government and RBI introduced measures to attract foreign portfolio investors and non-resident funds into government bonds and bank deposits, including tax exemptions and risk mitigation strategies, leading to a significant rupee gain.
Foreign companies are increasingly using India's IPO market to cash out investments, repatriating billions rather than raising new capital. Only one of six foreign-based companies listing Indian subsidiaries since 2024 raised new funds, with others structured as Offer for Sale (OFS).
Amit Khurana of Dolat Capital upgraded India's IT sector, citing low valuations and rupee depreciation. He anticipates double-digit net earnings growth for IT exporters by FY27 and backs LTIMindtree, OFSS, eClerx Services, and Intellect Design Arena.
The Indian rupee is at historic lows, nearing Rs. 100 to the dollar by late May 2026. Driven by market sentiment and foreign debt, corporate leaders must act now to protect cash flow, manage debt, and cut costs.
India's Union Cabinet recommended an ordinance to ease tax rules for foreign investors in certain securities, aiming to strengthen the rupee amid record FPI withdrawals and economic concerns.
India's central bank may raise interest rates on Friday, defying economist expectations of a hold, to combat a depreciating rupee and rising inflation driven by energy costs and potential El Niño impacts on crops.
India's Reserve Bank of India (RBI) may hike interest rates at its upcoming meeting, defying economist expectations for a hold. Factors driving this potential move include the rupee's depreciation to record lows, rising inflation pressures from energy costs and weather, and regional peers' proactive rate hikes.
India's government has refuted claims that the Reserve Bank of India (RBI) sold $12 billion in gold to support the rupee. PIB Fact Check called the report 'fake,' citing RBI data showing an increase in gold's share in foreign exchange reserves.
India's central bank may raise interest rates at its upcoming meeting to counter rupee depreciation and inflation risks from energy costs and potential El Niño impacts, defying economist expectations of a hold.
India's central bank likely intervened in the forex market on Wednesday to curb the rupee's decline, as rising crude oil prices due to renewed U.S.-Iran hostilities pressured the currency. The rupee was trading down 0.2% against the dollar.
Niti Aayog's governing council, led by PM Narendra Modi, will meet on June 11 to review state chief secretaries' deliberations and actions taken on reforms. A day later, Modi will chair a meeting of North-East chief ministers. The meeting occurs amidst the West Asia conflict impacting India's economy.
Coinbase has launched direct INR banking rails in India via IMPS, simplifying onboarding and enabling direct rupee trading. The exchange also introduced perpetual futures, aiming for long-term growth in the significant Indian crypto market despite high taxes.
Coinbase has launched direct rupee bank transfers in India via IMPS, enhancing access to crypto markets for local users. This move follows its registration with India's Financial Intelligence Unit, strengthening its regulatory footing in a rapidly growing digital asset market.
Indian companies face intense investor scrutiny over forex strategy as the rupee depreciates ~10% against the dollar. Exporters benefit, but importers face rising costs, prompting stronger hedging. "Rupee depreciation" and "hedging" mentions surged on earnings calls.
The Middle East conflict is impacting Indian households through increased prices of everyday items due to rising crude oil costs, currency fluctuations, and disrupted supply chains.
The Indian rupee strengthened by 34 paise to close at 95.26 against the US dollar on Monday, driven by improving global sentiment over potential US-Iran peace talks and supportive remarks from RBI Governor Sanjay Malhotra.
India's rupee has fallen 12% in 12 months due to global events. Experts propose strategies like energy independence, boosting domestic manufacturing, and strengthening talent mobility to build resilience against external shocks.
Fuel prices in India have seen a fourth hike in 11 days, with cumulative increases nearing Rs 7.5 per litre. This follows a rise in global crude oil prices due to US-Israeli strikes on Iran, impacting refining margins and import costs. States face pressure to cut VAT as prices reach highest levels since May 2022.
India raises gold import duty to 15% to protect the rupee and curb imports, but cultural demand for gold, especially for weddings, remains strong, leading to compromises like lighter jewelry and lower purity.
The Indian Rupee strengthened by 40 paise to 95.20 against the US dollar, driven by global market optimism over a potential US-Iran peace deal and progress in US-India trade talks. Early Monday trade saw the rupee open at 95.36 and rise to 95.20.
RBI Governor Sanjay Malhotra stated the central bank is prepared to intervene in the foreign exchange market to manage volatility and curb speculation, suggesting the rupee might be undervalued. He emphasized inflation remains the primary policy focus despite strong economic fundamentals.
