Subhadip's Feed
Feb 5, 2014

Rupee weakens on caution ahead of U.S. jobs data

MUMBAI (Reuters) – The rupee ended marginally lower on Wednesday as sentiment remained cautious with foreign funds continuing to be steady sellers of local debt ahead of key U.S. nonfarm payrolls data.

Foreign institutional investors have sold rupee debt worth $1.5 billion for nine of the 10 sessions to Tuesday. While the outflows have not assumed the proportions of last summer, which saw the rupee plunging to a record low of 68.85 to the dollar in late August, it nonetheless will ring a note of caution among policymakers.

Feb 5, 2014

Indian rupee weakens on caution ahead of U.S. jobs data

MUMBAI, Feb 5 (Reuters) – The Indian rupee ended marginally
lower on Wednesday as sentiment remained cautious with foreign
funds continuing to be steady sellers of local debt ahead of key
U.S. nonfarm payrolls data.

Foreign institutional investors have sold rupee debt worth
$1.5 billion for nine of the 10 sessions to Tuesday. While the
outflows have not assumed the proportions of last summer, which
saw the rupee plunging to a record low of 68.85 to the dollar in
late August, it nonetheless will ring a note of caution among
policymakers.

Feb 4, 2014

Rupee gains as stocks rebound, demand strong at mobile spectrum sale

MUMBAI (Reuters) – The rupee recovered from early losses on Tuesday to end the session with marginal gains as the government’s auction of mobile airwaves attracted strong demand, including from bidders such as Vodafone, offsetting concerns about global risk aversion.

The government received $7 billion worth of total bids on Monday, the first day of the auction and looked set to top its minimum target of raising $1.8 billion initially.

Feb 4, 2014

Indian rupee gains as stocks rebound, demand strong at mobile spectrum sale

MUMBAI, Feb 4 (Reuters) – The Indian rupee recovered from
early losses on Tuesday to end the session with marginal gains
as the government’s auction of mobile airwaves attracted strong
demand, including from bidders such as Vodafone, offsetting
concerns about global risk aversion.

The government received $7 billion worth of total bids on
Monday, the first day of the auction and looked set to top its
minimum target of raising $1.8 billion initially.

Feb 3, 2014

Rupee gains; possible spectrum auction-related dollar sales

MUMBAI (Reuters) – The rupee gained on Monday, snapping two sessions of losses, spurred by late dollar selling by foreign banks, likely for mobile phone operators bidding for spectrum in an auction.

That helped offset the currency’s earlier losses during the day as fears of foreign funds selling out of risk assets continued to beat down emerging market stocks and currencies.

Feb 3, 2014

Indian rupee gains; possible spectrum auction-related dlr sales

MUMBAI, Feb 3 (Reuters) – The Indian rupee gained on Monday,
snapping two sessions of losses, spurred by late dollar selling
by foreign banks, likely for mobile phone operators bidding for
spectrum in an auction.

That helped offset the currency’s earlier losses during the
day as fears of foreign funds selling out of risk assets
continued to beat down emerging market stocks and currencies.

Jan 30, 2014

Govt bonds at one-month low on Fed taper jitters

MUMBAI (Reuters) – Government bonds fell to a near one-month low on Thursday as the rupee weakened in line with emerging market currencies after the Federal Reserve further pruned its monetary stimulus.

The tapering by the U.S. central bank comes on the back of a surprise rate hike by the Reserve Bank of India (RBI) on Tuesday.

Jan 29, 2014

No longer in eye of storm, yet caution abounds on India

MUMBAI (Reuters) – Half a year after India’s worst economic crisis since 1991 reduced the rupee to record lows, a government in the last months of its life faces a new moment of truth as emerging markets again show signs of buckling.

This time round countries such as Argentina, Brazil, South Africa and Turkey have been in the firing line.

Jan 29, 2014

No longer in eye of storm, caution still abounds over India

MUMBAI, Jan 29 (Reuters) – Half a year after India’s worst
economic crisis since 1991 reduced the rupee to record lows, a
government in the last months of its life faces a new moment of
truth as emerging markets again show signs of buckling.

This time round countries such as Argentina, Brazil, South
Africa and Turkey have been in the firing line.

Jan 28, 2014

RBI’s dovish outlook soothes bond investors

MUMBAI (Reuters) – Government bonds gained on Tuesday, snapping a five-day losing streak, after the Reserve Bank of India (RBI) took the sting off an unexpected hike in interest rates with a statement that traders said signalled a more dovish stance.

The RBI surprised markets by raising the repo rate by 25 basis points to 8.00 percent, a week after a central bank panel had recommended making taming consumer inflation a priority in monetary policy.