Subhadip's Feed
Aug 20, 2013

Indian rupee off record lows after suspected cbank intervention

MUMBAI, Aug 20 (Reuters) – The Indian rupee slid to a record
low on Tuesday, falling past 64 to the dollar, before the
central bank stepped in to support a currency facing the brunt
of a selloff from emerging market assets ahead of an expected
tapering of U.S. stimulus.

The currency reversed most losses as the Reserve Bank of
India was cited selling dollars both in the spot and forwards
markets, which helped the rupee recover from a fall of 1.6
percent, after a rout of 2.3 percent on Monday.

Aug 20, 2013

Indian rupee hits record low as policy rescue operations fall short

MUMBAI (Reuters) – The Indian rupee fell past 64 to the dollar for the first time on Tuesday and bond yields spiked to a five-year high before the central bank stepped in to sell dollars, as Asia’s third-largest economy bore the brunt of the global emerging markets selloff.

Underscoring how hard it is for New Delhi to push through reforms despite the urgency of a deteriorating economic outlook, parliament was adjourned on Tuesday due to protests by members over a corruption scandal.

Aug 20, 2013

Rupee falls to record low of 64.13 before RBI steps in

MUMBAI (Reuters) – The rupee slumped to a record low in early trade on Tuesday and bond yields hit another five-year high as Asia’s third-largest economy bore the brunt of growing money flows out of emerging markets.

The rupee slumped as much as 1.6 percent to 64.13 to the dollar, adding to its 2.3 percent rout on Monday, before traders said the RBI was seen stepping in to sell dollars.

Aug 20, 2013

Indian rupee falls to record low before central banks steps in

MUMBAI (Reuters) – The Indian rupee slumped to a record low in early trade on Tuesday and bond yields hit another five-year high as Asia’s third-largest economy bore the brunt of growing money flows out of emerging markets.

The rupee slumped as much as 1.6 percent to 64.13 to the dollar, adding to its 2.3 percent rout on Monday, before traders said the central bank was seen stepping in to sell dollars.

Aug 19, 2013

India, Brazil, other emerging economies hit by currency rout

MUMBAI/RIO DE JANEIRO (Reuters) – The Indian rupee plummeted to a record low against the dollar on Monday, leading a rout by Brazil’s real and other emerging market currencies seen by investors as the most vulnerable to an exodus of foreign capital.

A fierce selloff in many emerging currencies shows no sign of abating as the expected withdrawal of U.S. monetary stimulus prompts investors to shun markets seen as riskier because of funding deficits, slowing economies and inflation.

Aug 19, 2013

India’s defense of record low rupee grows more costly as bond yields surge

MUMBAI (Reuters) – The rupee hit a record low on Monday as India’s defense of the currency failed to stop its decline but exacted a rising toll, with bond yields surging to five-year highs and investors demanding higher returns in an auction of cash bills.

The rupee tumbled as far as 63.00 to the dollar, down about 2 percent on the day and breaching the previous low of 62.03 hit on Friday despite a spate of measures in recent weeks by the central bank and government to defend it.

Aug 19, 2013

Rupee, rupiah lead emerging market slide on Fed fears

MUMBAI/JAKARTA (Reuters) – India’s rupee crashed to a record low and the Indonesian rupiah hit a 4-year trough on Monday, as the expected withdrawal of U.S. monetary stimulus prompts investors to shun emerging markets burdened by weak external balances, slowing economies and inflation.

It followed a slide on Friday in Brazil’s real, a currency that, like the rupee, has been hammered by investor doubts that actions taken by monetary authorities last week will prove effective in stemming the sell-off.

Aug 19, 2013

Rupee falls to record low of 62.46/dollar despite steps

MUMBAI (Reuters) – The rupee fell to a record low on Monday and looked poised for further losses, with a series of measures unveiled last week failing to stall its decline.

The currency fell as far as 62.46 to the dollar in early trade, breaching the previous low of 62.03 hit on Friday.

Aug 19, 2013

Indian rupee sags to record low despite government steps

MUMBAI (Reuters) – The Indian rupee fell to a record low on Monday and looked poised for further losses, with a series of measures unveiled last week failing to stall its decline.

The currency fell as far as 62.46 to the dollar in early trade, breaching the previous low of 62.03 hit on Friday.

Aug 16, 2013

Bonds slump to 21-month lows on fears of more RBI steps

MUMBAI (Reuters) – Indian benchmark government bonds slumped to 21-month lows on Friday and posted their worst week in four-and-a-half years, as the rupee slid to a record low despite policy makers’ efforts to defend the currency.

The Reserve Bank of India late on Wednesday unveiled rules to restrict how much its citizens and companies can invest abroad and announced additional curbs on gold imports.