Subhadip's Feed
Jan 16, 2014

Indian bonds at 2-1/2 month highs; govt may borrow less this FY

MUMBAI, Jan 16 (Reuters) – Indian government bonds rose to a
new 2-1/2 month high on Thursday on comments from a finance
ministry official that the current fiscal year borrowing may be
curtailed, raising hopes of a lower deficit.

India is likely to cut its borrowing via bonds for the
2013/14 fiscal year ending in March by 150 billion rupees ($2.4
billion) as revenues could be better than expected, a senior
official with direct knowledge of the government’s budget
calculations told Reuters.

Jan 15, 2014

Indian govt bonds at 2-1/2 month high on stable rate view

MUMBAI, Jan 15 (Reuters) – Indian government bonds rose to
their highest in more than 2-1/2 months on Wednesday as a sharp
easing of headline inflation cemented bets the central bank will
keep interest rates on hold at its policy review later this
month.

Data on Wednesday showed headline inflation eased to a
five-month low of 6.16 percent in December, helped by a
softening in vegetable prices.

Jan 3, 2014

Rupee off one-month lows on suspected intervention

MUMBAI (Reuters) – The rupee gained on Friday, rebounding from a one-month low hit earlier in the session, after the Reserve Bank of India was suspected of having intervened to prevent a bout of risk aversion hitting Asian currencies from also enveloping India.

The RBI was seen selling dollars in the forex market from 62.50 rupee levels to support the rupee, three dealers told Reuters, after the currency had earlier fallen to as much as 62.56, its lowest since November 29.

Jan 2, 2014

Rupee falls to two-week low on weak shares

MUMBAI (Reuters) – The rupee fell to a two-week low on Thursday, posting a second consecutive decline, hurt by the biggest falls in stocks in six weeks and dollar demand from a large corporate.

The weak start to the year comes ahead of key events later this month, including inflation data due mid-month that will help determine whether the Reserve Bank of India raises interest rates at its policy review on January 28.

Jan 1, 2014

Rupee falls on first trading day of 2014

MUMBAI (Reuters) – The rupee ended lower on Wednesday, the first trading session of 2014, with traders focused on key macroeconomic data ahead of the Reserve Bank of India’s rate meeting later this month.

Volumes were thin as most global markets were shut for new year holidays.

Emerging from a year which saw the rupee plumbing to a series of lows, traders are awaiting allocations from foreign investors into local markets, which form a key support for the currency.

Dec 31, 2013

Rupee down 11 pct in 2013; taper, elections key in 2014

MUMBAI (Reuters) – The rupee ended with gains on Tuesday, but posted a 11 percent fall in 2013, ending a tough year marked by a descent to a record low and suffering from continued concerns about its outlook next year.

Although the rupee closes well above a record low of 68.85 per dollar hit in late August, thanks in part to emergency measures taken by policy makers, the rupee still ends 2013 as Asia’s third worst performer and with a third consecutive annual decline.

Dec 30, 2013

Rupee falls; on course to end 2013 as one of Asia laggards

MUMBAI (Reuters) – The rupee fell on Monday, hit by strong dollar demand by a state-run bank that dealers said was intended to meet oil refiner needs, and is on course to end the year as one of Asia’s worst performers after hitting a record low in August.

Although the rupee is well above its all-time trough of 68.85 hit on August 28, the currency is still down 11.2 percent in 2013, making it Asia’s worst performer after the Indonesian rupiah and the Japanese yen.

Dec 30, 2013

Indian rupee falls; on course to end 2013 as one of Asia laggards

MUMBAI, Dec 30 (Reuters) – The Indian rupee fell on Monday,
hit by strong dollar demand by a state-run bank that dealers
said was intended to meet oil refiner needs, and is on course to
end the year as one of Asia’s worst performers after hitting a
record low in August.

Although the rupee is well above its all-time trough of
68.85 hit on Aug. 28, the currency is still down 11.2 percent in
2013, making it Asia’s worst performer after the Indonesian
rupiah and the Japanese yen.

Dec 24, 2013

RBI likely to reboot policy, focus on consumer inflation

MUMBAI (Reuters) – The Reserve Bank of India (RBI) could soon unveil a major change in monetary policy to explicitly make managing consumer inflation, rather than wholesale prices, its main objective.

The shift would be a significant one in a country that’s long struggled to contain retail prices. It is expected as part of a deep review of monetary policy that RBI Raghuram Rajan ordered, after his September appointment, to sharpen the central bank’s focus and increase its accountability.

Dec 24, 2013

India cbank expected to reboot policy, put focus on consumer inflation

MUMBAI, Dec 24 (Reuters) – India’s central bank could soon
unveil a major change in monetary policy to explicitly make
managing consumer inflation, rather than wholesale prices, its
main objective.

The shift would be a significant one in a country that’s
long struggled to contain retail prices. It is expected as part
of a deep review of monetary policy that Reserve Bank of India
Governor Raghuram Rajan ordered, after his September
appointment, to sharpen the central bank’s focus and increase
its accountability.