Subhadip's Feed
Sep 10, 2013

Indian rupee hits two-week high as exports seen rising, Syria concerns ease

MUMBAI (Reuters) – The Indian rupee rose to a two-week high on Tuesday as expectations for a narrower trade deficit and receding concerns about Syria helped the currency continue its recent recovery from record lows hit last month.

The rupee rose as much as 1.7 percent on the day, and looked set for a fourth consecutive session of gains after former International Monetary Fund Chief Economist Raghuram Rajan took the helm of the central bank last Wednesday and quickly unveiled a spate of measures to support the currency and open up markets.

Sep 10, 2013

Rupee hits two-week high as exports seen rising, Syria concerns ease

MUMBAI (Reuters) – The rupee rose to a two-week high on Tuesday as expectations for a narrower trade deficit and receding concerns about Syria helped the currency continue its recent recovery from record lows hit last month.

The rupee rose as much as 1.7 percent on the day, and looked set for a fourth consecutive session of gains after former International Monetary Fund Chief Economist Raghuram Rajan took the helm of the central bank last Wednesday and quickly unveiled a spate of measures to support the currency and open up markets.

Sep 5, 2013

Why some foreign investors are buying India

MUMBAI (Reuters) – Newspaper headlines spew doom and gloom about India. Analysts are topping each other with ever-more-dire pronouncements on the country’s prospects. And yet some foreign investors are not only ignoring the warnings, they are buying more shares.

It flies in the face of conventional wisdom to bet on a country with a currency tumbling to record lows and a government that is clutching at straws to deal with India’s worst economic turmoil since its balance of payment crisis in 1991.

Sep 5, 2013

Darkest before dawn: Why some foreign investors are buying India

MUMBAI (Reuters) – Newspaper headlines spew doom and gloom about India. Analysts are topping each other with ever-more-dire pronouncements on the country’s prospects. And yet some foreign investors are not only ignoring the warnings, they are buying more shares.

It flies in the face of conventional wisdom to bet on a country with a currency tumbling to record lows and a government that is clutching at straws to deal with India’s worst economic turmoil since its balance of payment crisis in 1991.

Sep 5, 2013

Analysis – Darkest before dawn: Why some foreign investors are buying India

MUMBAI (Reuters) – Newspaper headlines spew doom and gloom about India. Analysts are topping each other with ever-more-dire pronouncements on the country’s prospects. And yet some foreign investors are not only ignoring the warnings, they are buying more shares.

It flies in the face of conventional wisdom to bet on a country with a currency tumbling to record lows and a government that is clutching at straws to deal with India’s worst economic turmoil since its balance of payment crisis in 1991.

Sep 4, 2013

New RBI chief Rajan raises hopes with action plan

MUMBAI (Reuters) – New Reserve Bank of India (RBI) chief Raghuram Rajan kicked-off his term with a bang, announcing a spate of measures to support the embattled rupee and unveiling a raft of steps to liberalise financial markets and the banking sector.

In an unexpectedly detailed and wide-ranging briefing, Rajan outlined plans to attract more funds from overseas by subsidising hedging costs for banks and making it easier for importers and exporters to hedge currency risk.

Sep 4, 2013

New India central bank chief raises hopes with action plan

MUMBAI (Reuters) – India’s new central bank chief kicked-off his term with a bang, announcing a spate of measures to support the embattled rupee and unveiling a raft of steps to liberalize financial markets and the banking sector.

In an unexpectedly detailed and wide-ranging briefing, Raghuram Rajan outlined plans to attract more funds from overseas by subsidizing hedging costs for banks and making it easier for importers and exporters to hedge currency risk.

Sep 4, 2013

Rupee in sharp rebound on suspected heavy intervention

MUMBAI (Reuters) – The rupee staged a sharp recovery on Wednesday after suspected heavy dollar selling by the Reserve Bank of India (RBI), preventing the battered currency from slipping to a record low on the same day that the authority ushers in a new governor.

Raghuram Rajan, a former chief economist at the International Monetary Fund (IMF), takes charge at the RBI as the country faces its worst economic crunch since a balance of payments crisis two decades ago.

Sep 4, 2013

Indian rupee in sharp rebound on suspected heavy intervention

MUMBAI (Reuters) – The Indian rupee staged a sharp recovery on Wednesday after suspected heavy dollar selling by the central bank, preventing the battered currency from slipping to a record low on the same day that the authority ushers in a new governor.

Raghuram Rajan, a former chief economist at the International Monetary Fund (IMF), takes charge at the Reserve Bank of India as the country faces its worst economic crunch since a balance of payments crisis two decades ago.

Sep 3, 2013

Rupee below 68; Mideast fears, S&P warning weigh

MUMBAI (Reuters) – The rupee fell below 68 to the dollar to near record lows on Tuesday after Standard & Poor’s said there was a more than one-in-three chance of a ratings downgrade for the country and as fears of war in the Middle East roiled global markets.

The currency later extended its losses on the day to more than 3 percent after Russian news agencies quoted the Defence Ministry as saying radar had detected the launch of two ballistic “objects” towards the eastern Mediterranean.