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In the small Bombay theater that showed big films, his father brought him — over and over again — to see the biggest of them all. With every one of his 18 viewings of “Mughal-e-Azam,” a hit 1960 musical about a forbidden romance between a prince and a courtesan, the young boy fell more in love. The rays of light, beamed in black and white, opened to him a world at once majestic and lost. The music swept him to places that only later in life would he fully understand. India, cinema and music — they would all change, too.
Persons: , , Sanjay Leela Bhansali — Organizations: Alankar Talkies Locations: Bombay, Mumbai, India
The rupee closed at 82.9350 per U.S. dollar, 0.2% stronger than its close of 83.1075 on Monday. "Inflows for initial public offerings and presence of the central bank around 83.10 levels ensured some strength in the rupee after nearly two weeks of fall," said Anil Bhansali, head treasury at Finrex Treasury Advisors. The easing of the dollar index also aided in helping the rupee strengthen past the 83 mark, a trader with a private bank said. "A large foreign bank was mainly on the selling side," the private bank trader added. India's central bank ensured the rupee did not depreciate significantly despite immense dollar-buying pressure from oil companies, Bhansali said.
Persons: Francis Mascarenhas, Anil Bhansali, Vishnu Prakash R, Jerome Powell's, Jackson, Bhansali, Swati Bhat, Janane Organizations: REUTERS, Rights, Treasury, Companies, Aeroflex Industries, Vishnu, U.S, Traders, Jackson, Thomson Locations: Mumbai, India
MUMBAI, April 3 (Reuters) - The Indian rupee is expected to open lower versus the U.S. dollar on Monday after a surprise production cut by OPEC+ fuelled a jump in oil prices. The non-deliverable forwards indicate the rupee will open at around 82.35-82.40 to the U.S. dollar compared with 82.1650 in the previous session. A rise in oil prices directly affects the Indian economy and the rupee as the country imports about 83% of its oil requirements, said Anil Bhansali, head treasury at Finrex Treasury Advisors. According to estimates by some economists, a 10% hike in oil prices leads to an increase in India’s current account deficit by 0.3% to 0.5% of the GDP. Apart from oil prices, the Reserve Bank of India's (RBI) policy decision on Thursday and the U.S. jobs report on Friday will be key for the rupee this week.
Government bond yields are expected to tick up as investors shift focus to the upcoming budget. The rupee climbed 1.7% to 81.3250 per dollar last week, tracking a broad decline in the dollar index . There are a lot of positives for the rupee, including the Fed view, the broadly stable oil prices and the fall in Treasury yields, said Anil Bhansali, head of treasury at Finrex Treasury Advisors. Till then, bond yields should not fall much, as most people are expecting a heavy borrowing calendar," said Ajay Manglunia, managing director and head of investment grade group at JM Financial. Meanwhile, as a bulk of the fresh supply for the next financial year would hit the longer end, market participants expect yields to rise, while shorter-tenor yields may see some fall.
MUMBAI, Jan 11 (Reuters) - The Indian rupee may open slightly higher against the dollar on Wednesday, building on the previous day's momentum when it managed to move above important resistance levels, traders said. The rupee is tipped to open at around 81.66-81.70 compared with 81.7850 in the previous session. Yesterday, the rupee managed to scale multiple resistance levels that were there between 81.80 to 82.20, surprising most market participants, a spot trader at a foreign bank said. The rupee will simply be carrying yesterday's momentum at open, he added. Anil Bhansali, head treasury at Finrex Treasury Advisors, reckoned that after Tuesday's move, the new support levels for USD/INR are at 81.70 and 81.40.
The rupee closed at 82.8800 per U.S. dollar, down from 82.7375 in the previous session. The local currency on the interbank order matching system fell to 82.9950, prompting state-run banks to sell dollars, likely on behalf of the RBI, three traders told Reuters. The rupee which was anyway under pressure on account of importer hedging was further hurt by the dollar's surge against its major peers. This week's U.S. data will help investors gauge how growth is holding up and the likely path for U.S. interest rates. Meanwhile, it was a choppy session for rupee premiums, with the 1-year implied yield trading in a 1.95% to 2.02% range.
MUMBAI, Dec 19 (Reuters) - The Indian rupee rose against the dollar on Monday as the greenback declined against its major peers, while forward premiums added to last week's surge. The rupee last traded at 82.6950 per U.S. dollar, up from 82.87 in the previous session. There were decent dollar offers through the day, probably on account of a pickup in forward dollar sales and speculative positions, a trader at a private bank said. The rupee and other Asian currencies were helped by the dollar's weakness against its major peers. Market expectations about the peak Fed fund rate has not moved higher despite hawkish comments from Fed policymakers.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAriel Global Investments' Rupal Bhansali on the Fed, inflation, and her investment strategyRupal Bhansali, Chief Investment Officer at Ariel Global Investments, joins Worldwide Exchange to discuss the Federal Reserve, global inflation expectations, the energy outlook, and how to position your portfolio.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExclusive: Ariele's Rupal Bhansali says a regime change is underway for risk assetsRupal Bhansali, Portfolio Manager at Ariel International Fund & Ariel Global Fund, joins Worldwide Exchange to discuss what the Federal Reserve's third straight 75 basis point rate hike means for risk assets.
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