Subhadip's Feed
Mar 12, 2013

Indian rupee gains; high retail inflation damps rate cut hopes

MUMBAI, March 12 (Reuters) – The Indian rupee rose on
Tuesday helped by foreign fund inflows, but gains were kept in
check as some traders scaled back hopes of a rate cut by the
central bank after consumer price inflation showed a spike and
factory output rose more than expected.

India’s annual consumer price inflation inched
up to 10.91 percent in February from 10.79 percent a month ago,
data released on Tuesday showed.

Mar 11, 2013

Rupee falls on dollar strength; trade data supports

MUMBAI (Reuters) – The rupee fell on Monday, retreating from an over one-week high hit earlier in the session, as relief from domestic trade data showing a rise in exports failed to offset the global strength in the dollar after a stronger-than-expected U.S. jobs data.

India’s exports rose 4.25 percent in February from a year earlier, narrowing the trade deficit to $14.92 billion and alleviating some concerns about the current account deficit.

Mar 11, 2013

Indian rupee falls on dollar strength; trade data supports

MUMBAI, March 11 (Reuters) – The Indian rupee fell on
Monday, retreating from an over one-week high hit earlier in the
session, as relief from domestic trade data showing a rise in
exports failed to offset the global strength in the dollar after
a stronger-than-expected U.S. jobs data.

India’s exports rose 4.25 percent in February from a year
earlier, narrowing the trade deficit to $14.92 billion and
alleviating some concerns about the current account deficit.

Mar 8, 2013

Indian bonds gain on lower 1H borrowing hopes; best week in 2 mths

MUMBAI, March 8 (Reuters) – Indian government bonds rose on
Friday after a report said the fiscal first-half government
borrowing may be lower than expected, with growing hopes of a
rate cut by the central bank at its upcoming review.

News channel CNBC-TV18 reported late Thursday, citing
unnamed finance ministry sources, that the government would
borrow 3.3 trillion rupees during April-September, which would
be around 57 percent of the full fiscal-year borrowing.

Mar 7, 2013

Indian bond yields end flat; focus shifts to inflation data next week

MUMBAI, March 7 (Reuters) – Indian government bond yields
ended flat on Thursday as traders shifted focus to key inflation
data due next week for cues on the central bank’s policy
decision later this month.

A lower-than-expected headline reading and low core
inflation for February will cement expectations of a rate cut at
the Reserve Bank of India’s March 19 review, the second such
rate cut in 2013.

Mar 6, 2013

Indian bonds gain for third day on better cash; macro data next week

MUMBAI, March 6 (Reuters) – Indian government bonds rose for
a third consecutive session on Wednesday on improved liquidity
conditions and continued expectations the central bank will cut
interest rates later this month.

India will post industrial output and inflation data next
week, which will be critical indicators ahead of the Reserve
Bank of India’s policy review on March 19.

Mar 5, 2013

Rupee falls in late trade on euro losses; current a/c deficit concern remains

MUMBAI (Reuters) – The rupee gave up early gains to end lower on Tuesday, driven by a late fall in the euro, with concerns over the country’s current account deficit expected to remain a major drag for the currency.

The government’s top economic adviser, Raghuram Rajan, named the record-high current account deficit as the main worry for the country, reiterating the stance from Finance Minister P. Chidambaram in his budget speech last week.

Mar 5, 2013

Indian rupee falls in late trade on euro losses; current a/c deficit concern remains

MUMBAI, March 5 (Reuters) – The Indian rupee gave up early
gains to end lower on Tuesday, driven by a late fall in the
euro, with concerns over the country’s current account deficit
expected to remain a major drag for the currency.

The government’s top economic adviser, Raghuram Rajan, named
the record-high current account deficit as the main worry for
the country, reiterating the stance from Finance Minister
Palaniappan Chidambaram in his budget speech last week.

Mar 4, 2013

Indian bonds gain as rate cut hopes rise; cash conditions improve

MUMBAI, March 4 (Reuters) – Indian government bonds rose on
Monday, recovering from a sell-off that traders saw as excessive
after the release of higher-than-expected borrowing target last
week, with markets supported by hopes the central bank will cut
interest rates later this month.

Improving cash conditions as seen by a sharp drop in banks’
borrowing from the central bank also supported debt markets,
sending the one-year interest rate swap to a one-month low.

Mar 1, 2013

Indian bonds fall to 3-week lows as supply fears haunt

MUMBAI, March 1 (Reuters) – Indian government bonds fell to
three-week lows on Friday, extending losses a day after the
finance minister unveiled a higher-than-expected gross borrowing
for 2013/14, with comments from a rating agency adding to fears
that a downgrade possibility was still real.

Yields have risen 11 basis points (bps) since the government
said it plans to borrow 6.29 trillion rupees ($116 billion) in
the fiscal year starting April, higher than the 5.58 trillion
rupees for the current fiscal year.