Subhadip's Feed
Jul 18, 2013

Rupee falls for second day; RBI, govt steps fail to boost

MUMBAI (Reuters) – The rupee fell for a second session on Thursday on dollar demand from companies and importers and is now close to wiping out the gains it notched up since the Reserve Bank of India’s (RBI) unexpected measures to shore up the currency.

The RBI’s move to raise an emergency funding rate and cap the amount that banks can borrow from it announced on Monday, followed by the government’s relaxation of foreign investment limits in some sectors, have so far had only limited impact on the rupee.

Jul 17, 2013

Rupee weakens ignoring govt’s FDI steps

MUMBAI (Reuters) – The rupee posted slight falls on Wednesday as continued dollar demand from importers eroded early gains from the government’s decision to relax foreign direct investment rules in various sectors.

The RBI was suspected selling dollars in late trade via state-run banks from around 59.50 levels to push up the rupee, several dealers said.

Jul 17, 2013

RBI, bond investors head for pricing clash

MUMBAI (Reuters) – The RBI rejected all bids in a $2 billion sale of Treasury bills on Wednesday, highlighting the increased prospect of a clash with investors over the appropriate price for debt securities during a period of surging yields.

The failure to sell any of the scheduled 91-day and 182-day treasury bills came after the Reserve Bank of India decided that investors bids for yields were too high, a source familiar with the central bank’s thinking told Reuters.

Jul 17, 2013

Indian cbank, bond investors head for pricing clash

MUMBAI, July 17 (Reuters) – India’s central bank rejected
all bids in a $2 billion sale of Treasury bills on Wednesday,
highlighting the increased prospect of a clash with investors
over the appropriate price for debt securities during a period
of surging yields.

The failure to sell any of the scheduled 91-day and 182-day
treasury bills came after the Reserve Bank of India decided that
investors bids for yields were too high, a source familiar with
the central bank’s thinking told Reuters.

Jul 16, 2013

Rupee gains modestly on RBI steps

MUMBAI (Reuters) – Indian government bond yields jumped the most in four-and-a-half years and overnight indexed swap rates posted their biggest rise in at least 13 years after the central bank curbed liquidity in a bid to shore up the struggling rupee.

Yet, the rupee gained only 1 percent on the day, sparking concern that the unexpected Reserve Bank of India measures, announced late on Monday, did not address fundamental issues behind the currency’s fall and would inflict too much pain for limited gain.

Jul 16, 2013

India makes risky bet with rupee defence

MUMBAI, July 16 (Reuters) – India’s boldest attempt yet to
prevent a rout in the rupee delivered only a modest lift in the
currency but shares slumped and bond yields jumped as investors
worried that policymakers might overplay their hand and damage
economic growth.

The government said on Tuesday the moves were an attempt to
stabilise the currency, which hit a record low last week and is
down nearly 10 percent since the start of May, but analysts said
longer-term economic reforms were really what was needed.

Jul 15, 2013

Rupee weakens as data stokes worries about economic outlook

MUMBAI (Reuters) – The rupee fell on Monday as recent economic data worsened concerns about an economy reeling under a record current account deficit, clouding the outlook for the currency that hit a record low this month.

Data after the close of markets on Friday showed industrial output unexpectedly contracted in May from a year ago, while retail inflation accelerated in June.

Jul 15, 2013

Indian rupee weakens as data stokes worries about economic outlook

MUMBAI, July 15 (Reuters) – The Indian rupee fell on Monday
as recent economic data worsened concerns about an economy
reeling under a record current account deficit, clouding the
outlook for the currency that hit a record low this month.

Data after the close of markets on Friday showed industrial
output unexpectedly contracted in May from a year ago, while
retail inflation accelerated in June.

Jul 9, 2013

Rupee rebounds as regulators move to curb speculative trades

MUMBAI (Reuters) – The rupee rallied on Tuesday from a record low in the previous session after regulators restricted speculative trading in currency derivatives, although the measures are expected to provide only brief respite for the currency.

Late on Monday, the Reserve Bank of India banned banks from proprietary trading in domestic currency futures and options, while the Securities and Exchange Board of India (SEBI) doubled the margin requirement on the domestic dollar-rupee forward trade.

Jul 9, 2013

Indian rupee rebounds as regulators move to curb speculative trades

MUMBAI, July 9 (Reuters) – The Indian rupee rallied on
Tuesday from a record low in the previous session after
regulators restricted speculative trading in currency
derivatives, although the measures are expected to provide only
brief respite for the currency.

Late on Monday, the Reserve Bank of India banned banks from
proprietary trading in domestic currency futures and options,
while the Securities and Exchange Board of India (SEBI) doubled
the margin requirement on the domestic dollar-rupee forward
trade.