On the eve of Diwali, petrol is cheaper by Rs 1.38 per litre from November 1, but diesel is costlier by 56 paise per litre in Delhi. The fuel price variation is because of strengthening of the rupee against the dollar and softer international gasoline rates. This is the second time that petrol prices have fallen in a month, giving consumers a breather.
Tag: rupee
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Rupee weakness to have minimal impact on Hindalco
Kumar Mangalam Birla, Chairman of Hindalco Industries said the impact of rupee depreciation on the company's balance sheet would be minimal as it does not have much of foreign currency loan. Addressing shareholders at the companyÂ’s 54th annual general meeting, Birla said the firm has a foreign loan of only $100 million and so the impact of rupee deva
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Depreciation of Rupee hits port development: Vasan
The Union Shipping Minister GK Vasan recently said that the falling value of rupee will stroÂngly affect port development works in the country and its shipping industry. The present economic crisis in India has affected employment opportunities of even cadÂets trained at the Shipping Corporation of India (SCI)-run Maritime Training Institute (MTI), the Minister added.
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Exporters take advantage of rise in price, rupee weakness
Mining firms are exporting iron ore in a big way on the back of increase in the price of the commodity in the global market and depreciation of rupee. Many miners are exporting iron ore fines and pellets to China as the price of the commodity rose considerably in recent days. Sources indicate that the prices of pellets rose from Rs 6,200 per tonne a month ago to Rs 6,700 per t
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Adani pins hopes on dollar revenues from Indian ports
Ahmedabad-based Adani Group is alarmed with the falling value of rupee and now pinning its hopes on dollar revenues from its port trade. Gautam Adani, Chairman of Adani Group said that the port trade of the company has income streams, which are US dollar-denominated.
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Under-recovery of oil firms on the rise
Under-recovery on sale of one litre of diesel rose to Rs 14 over the last couple from around Rs 7 earlier because of global rise in crude oil price and depreciation of rupee. The rising under-recovery would adversely affect state-run oil marketing companies (OMCs) like IndianOil, Bharat Petroleum Corporation and Hindustan Petroleum Corp
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Rupee weakness puts upward pressure on interest rates
Interest rate in India is rising on the back of the steep decline in the value of rupee against the dollar in recent months. Experts feel that the depreciating rupee raises domestic interest rate through three ways. First, in order to discourage speculation in the currency market, Reserve Bank of India (RBI) tightens liquidity and raises shor
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Price of crude oil rises due to rupee weakness
The steep decline in the value of Indian currency raised the price (in rupee terms) of crude oil imported by India. Further, global factors like higher demand, low OPEC spare capacity and improved economic outlook for 2013 raised the price of crude oil in dollar terms. For example, the Brent crude oil futures rose to a two-year high of $110.51 a barrel recently. Brent for sweet grad
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Rupee depreciation to hit steel firms
Analysts feel that the depreciation of rupee against the dollar may affect the bottomlines of steel companies further. Already, companies like JSW Steel, Steel Authority of India (SAIL) bore the brunt because of the unfavourable exchange rate. The depreciating rupee may further hurt the cost of production of steel companies in turn affecting their mar
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FSDC panel discusses stability of financial system
The sub-committee of Financial Stability and Development Council (FSDC), chaired by RBI Governor D Subbarao met recently to discuss potential risk to stability of the domestic financial system. The sub-panel expressed concern on the deteriorating asset quality of public-sector banks and discussed corrective measures for