In a recent trading session, the Indian rupee depreciated beyond the Rs 60 per dollar level owing to strong demand from importers. The Indian currency is learnt to have declined to Rs 60.76 per dollar in a recent trading session. In the month of June, the currency weakened 7 percent against the US dollar and 12 percent since May 1. Some market expects expect rupee to fall to 61-62 against dollar in the short term. However, they expect the weakening of the rupee to be temporary because in longer
Tag: exchange rate
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Rupee hits another record low against dollar
The Indian rupee hit a record low of 59.9850 against US dollar in a recent trading session as foreign investors continue to pull out of their investment in the Indian stock market and bonds. With the considerable depreciation in the Indian rupee, traders are expecting the Reserve Bank of India to step in to sell dollars to arrest further weakening. The Indian currency depreciated 11 percent since May 2013. This will adve
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OMCs raise petrol price 2nd time in June
Considering the weakening of the Indian currency against the dollar, state-run oil marketing companies (OMCs) raised the price of petrol by Rs 2 a litre recently. This is the second increase in the price of the auto fuel this month as the cost of crude oil import has risen following the depreciation of rupee. On June 1, OMCs raised price of petrol by 75 paisa, excluding VAT
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Rupee falls to all-time low against dollar
The Indian rupee depreciated against the greenback to touch an all-time low of 58.15 per dollar in a recent trading session because of the perceived recovery in the US economy. The perceived recovery of the US economy caused fear that the US Federal Reserve may taper off its quantitative easing programme and this led to the rally of US dollar against many
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Rupee falls to one-year low against dollar
At a recent trading session on the Interbank Foreign Exchange market, the Indian rupee depreciated to a one-year low of 56.58 against the dollar. The decline in rupee against the dollar is attributed to the demand for the greenback from importers. Also, the concerns highlighted by Reserve Bank of India (RBI) Gove
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Global investors expect rupee to strengthen
Some international investors feel that the Indian rupee may appreciate against dollar in the coming months helped by the fall in domestic inflation and possible improvement in the current account deficit. Investment analysts expect current account deficit to improve on the back of benign commodity prices in the in
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Essar Oil set to replace rupee loan with dollar ones
Reports suggest that Essar Oil plans to raise dollar loans in order to repay some of its rupee loans in order to benefit from the interest differential between these two loans. According to media reports, the company plans to swap rupee loans worth $2.2 billion or Rs 11,700 crore with dollar loans
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Essar Oil set to replace rupee loan with dollar ones
Reports suggest that Essar Oil plans to raise dollar loans in order to repay some of its rupee loans in order to benefit from the interest differential between these two loans. According to media reports, the company plans to swap rupee loans worth $2.2 billion or Rs 11,700 crore with dollar loans
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Rise in world oil prices dents margin of OMCs
Owing to the recent rise in the international petrol price and depreciation of rupee, the marketing margin of Oil marketing companies (OMCs) on every litre of petrol declined considerably. During the second fortnight of November, the average international price rose to $118.64 a barrel from $113.74 a barrel in the first fortnight. The dollar-rupee exchange has
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Govt raises foreign investment limit in bonds
Government allowed foreign investors to invest up to $75 billion in Indian bonds compared to the earlier limit of $65 billion. The government raised this limit by allowing foreign investors to deploy an additional $5 billion each in corporate bonds issued by non-infrastructure companies and government bonds. Inves