Subhadip's Feed
Sep 3, 2013

S&P rating warning, Middle East fears heap more pressure on sliding India rupee

MUMBAI (Reuters) – The Indian 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.

Sep 2, 2013

Falling factory activity adds to rupee’s woes

MUMBAI (Reuters) – The rupee remained frail after last week’s record low, as pessimism generated by dismal economic growth data was compounded on Monday by survey showing factory activity in August shrank for the first time in over four years.

Investors want bold reforms to restore confidence in India, spur growth, reduce a record current account gap, while keeping a worryingly high fiscal deficit under control.

Sep 2, 2013

Falling Indian factory activity adds to rupee’s woes

MUMBAI (Reuters) – The Indian rupee remained frail after last week’s record low, as pessimism generated by dismal economic growth data was compounded on Monday by survey showing factory activity in August shrank for the first time in over four years.

Investors want bold reforms to restore confidence in India, spur growth, reduce a record current account gap, while keeping a worryingly high fiscal deficit under control.

Aug 30, 2013

Rupee slides again as fears grow for slowing economy

MUMBAI (Reuters) – The rupee slid back towards a record low on Friday, with investors braced for a statement on the state of economy from Prime Minister Manmohan Singh and the release of data that was expected to show India in the grip of a protracted slowdown.

Weak economic growth, a record high current account deficit and concerns about the government’s finances are proving a toxic mix for the rupee, which hit a record low of 68.85 on Wednesday after falling around 20 percent since May.

Aug 30, 2013

Indian rupee resumes slide as fears grow for slowing economy

MUMBAI (Reuters) – The rupee slid back towards a record low on Friday, with investors braced for a statement on the state of economy from Prime Minister Manmohan Singh and the release of data that was expected to show India in the grip of a protracted slowdown.

Weak economic growth, a record high current account deficit and concerns about the government’s finances are proving a toxic mix for the rupee, which hit a record low of 68.85 on Wednesday after falling around 20 percent since May.

Aug 30, 2013

Rupee charts in uncharted territory

MUMBAI/HONG KONG (Reuters) – The rupee has fallen so far so fast that not even technical analysts can divine the currency’s future.

The chartists, as these analysts are also known, are struggling to make sense of a currency that is now firmly in territory that is uncharted.

Aug 30, 2013

Indian rupee charts in uncharted territory

MUMBAI/HONG KONG (Reuters) – The rupee has fallen so far so fast that not even technical analysts can divine the currency’s future.

The chartists, as these analysts are also known, are struggling to make sense of a currency that is now firmly in territory that is uncharted.

Aug 28, 2013

Bonds fall for 4th day as rupee slumps to record low

MUMBAI (Reuters) – Government bonds fell for a fourth straight session on Wednesday in volatile trading, tailing the rupee which made new lows on fears that foreigners will continue to exit the country as economic challenges mount.

Bond investors remain buffeted by current account deficit worries as foreign investors pull out of emerging markets and by fiscal deficit concerns as the government gets ready to roll out an ambitious food subsidy programme.

Aug 26, 2013

Bonds fall as heavy supply looms

MUMBAI (Reuters) – Indian government bonds fell on Monday as worries about 530 billion rupees worth of debt and treasury bill sales this week kept investors cautious after last week’s volatile trading.

The large supply comes at a time when the Reserve Bank of India’s cash tightening steps have kept the overnight rate firmly lodged above the emergency funding rate of 10.25 percent, highlighting how expensive it has become to access short-term rates.

Aug 23, 2013

Rupee posts biggest single-day gain in nearly a year

MUMBAI (Reuters) – The rupee rose 2.1 percent on Friday, its biggest jump in nearly a year, as equities posted strong gains for a second session and the RBI was suspected to have sold dollars heavily late in the session.

However, the partially convertible rupee registered its second weekly loss, as investors fretted over fears of how the country will fund its large current account deficit as the U.S. Federal Reserve is expected to begin tapering its monetary stimulus.