Subhadip's Feed
Aug 14, 2013

Rising inflation raises stakes in rupee defence

MUMBAI (Reuters) – India paid the price for a rupee lodged near record lows as inflation accelerated to a five-month high in July, putting more pressure on policymakers to take credible steps to reduce a crippling external deficit.

The headline inflation rate, measured by the wholesale price index (WPI), accelerated to 5.79 percent annually in July from 4.86 percent in June, taking it above the Reserve Bank of India’s comfort zone of 4 to 5 percent for the first time since March.

Aug 14, 2013

India’s rising inflation raises stakes in rupee defense

MUMBAI (Reuters) – India paid the price for a rupee lodged near record lows as inflation accelerated to a five-month high in July, putting more pressure on policymakers to take credible steps to reduce a crippling external deficit.

The headline inflation rate, measured by the wholesale price index (WPI), accelerated to 5.79 percent annually in July from 4.86 percent in June, taking it above the Reserve Bank of India’s comfort zone of 4 to 5 percent for the first time since March.

Aug 12, 2013

Fresh government remedies fail to stem Indian rupee’s slide

NEW DELHI/MUMBAI (Reuters) – The Indian rupee weakened towards a record low on Monday after Finance Minister P. Chidambaram unveiled much anticipated proposals to narrow the current account deficit that were seen lacking crucial details.

In parliament on Monday, Chidambaram vowed to contain the current account deficit at $70 billion for the fiscal year ending in March, or an estimated 3.7 percent of gross domestic product (GDP).

Aug 12, 2013

Fresh government remedies fail to stem rupee’s slide

NEW DELHI/MUMBAI (Reuters) – The rupee weakened towards a record low on Monday after Finance Minister P. Chidambaram unveiled much anticipated proposals to narrow the current account deficit that were seen lacking crucial details.

In parliament on Monday, Chidambaram vowed to contain the current account deficit at $70 billion for the fiscal year ending in March, or an estimated 3.7 percent of gross domestic product (GDP).

Aug 8, 2013

Bonds snap 8 weeks of losses; await rupee support steps

MUMBAI (Reuters) – The government bonds posted their first weekly gains in nine, helped by growing hopes that policymakers would soon announce more steps to help the rupee which hit a record low earlier in the week.

The focus remains firmly on measures that the government may unveil, with bonds and the rupee gaining after a senior finance ministry official hinted at further steps.

Aug 7, 2013

Rupee falls as dealers await support measures

MUMBAI (Reuters) – The rupee fell on Wednesday to within striking distance of a record low, as dealers waited for word from policymakers on steps designed to boost inflows and prop up the battered currency.

Bond and forex dealers were betting the next steps to defend the rupee would come from the government, averting further harsh measures by the Reserve Bank of India (RBI) to tighten cash.

Aug 7, 2013

Indian rupee falls as dealers await support measures

MUMBAI, Aug 7 (Reuters) – The Indian rupee fell on Wednesday
to within striking distance of a record low, as dealers waited
for word from policymakers on steps designed to boost inflows
and prop up the battered currency.

Bond and forex dealers were betting the next steps to defend
the rupee would come from the government, averting further harsh
measures by the central bank to tighten cash.

Aug 7, 2013

Rupee on slippery path as support measures awaited

MUMBAI (Reuters) – The rupee resumed its descent on Wednesday to move within sight of a record low hit a day earlier, with policymakers set to discuss fresh measures to defend the worst performing Asian currency of the year so far.

Financial sector regulators, including Raghuram Rajan, who was on Tuesday appointed to take over next month as governor of the Reserve Bank of India, were due to meet in Mumbai amid speculation that the government will soon announce steps to spur capital inflows.

Aug 7, 2013

Indian rupee on slippery path as support measures awaited

MUMBAI, Aug 7 (Reuters) – The Indian rupee resumed its
descent on Wednesday to move within sight of a record low hit a
day earlier, with policymakers set to discuss fresh measures to
defend the worst performing Asian currency of the year so far.

Financial sector regulators, including Raghuram Rajan, who
was on Tuesday appointed to take over next month as governor of
the Reserve Bank of India, were due to meet in Mumbai amid
speculation that the government will soon announce steps to spur
capital inflows.

Aug 6, 2013

Bonds recover on hopes of government steps to reduce deficit

MUMBAI (Reuters) – Government bonds recovered all losses to end flat on Tuesday on speculation the government will take more steps to narrow the country’s current account deficit after the rupee hit a record low.

Bonds dealers also welcomed the appointment of Raghuram Rajan as the next RBI governor as he is broadly viewed as somebody who is reform-minded and can bring a fresh approach to monetary policy.