DIRS.INFO The most relevant business & tech news

☆ Indian shares open higher ahead of RBI minutes, central bankers' meet
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: 1 min

A man walks past the new logo of the Bombay Stock Exchange (BSE) building in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Aug 23 (Reuters) - Indian shares opened marginally higher on Wednesday amid muted global market moves, with traders awaiting the Reserve Bank of India's policy meeting minutes and a key global central bankers' gathering. The Nifty 50 (.NSEI) index was up 0.10% at 19,414.20 at 9:15 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.09% to 65,278.01. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Varun Organizations: Bombay Stock Exchange, REUTERS, Rights, Reserve Bank of, BSE, Thomson Locations: Mumbai, India, Bengaluru

☆ High food prices put populism on India’s table
▼ + stars: | 2023-08-22 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

Prices of tomatoes, onions, potatoes, pulses and spices – all the basic ingredients - are soaring as the world’s most populous country heads towards key state polls later this year and national ones soon after. It increases the temptation for Prime Minister Narendra Modi’s ruling Bharatiya Janata Party to indulge in some fiscal populism. Reuters Graphics Reuters GraphicsA surge in food prices drove annual retail inflation to 7.44% in July, the most in 15 months. Elections will be held this year in five of India’s 28 states, including heavyweight constituencies Madhya Pradesh and Rajasthan. India banned the export of non-basmati rice on July 20 to clamp down on rising domestic prices of the grain.

Persons: Narendra Modi’s, Modi, Nirmala Sitharaman, Una Galani, Thomas Shum Organizations: Reuters, Bharatiya Janata Party, Reuters Graphics Reuters, Madhya, Bloomberg, India’s, IDBI, India’s Ministry of Finance, Reserve Bank, Thomson Locations: MUMBAI, Nepal, Madhya Pradesh, Rajasthan, Karnataka, New Delhi, India

☆ Rupee caught between further rise in US yields, yuan recovery
▼ + stars: | 2023-08-22 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsMUMBAI, Aug 22 (Reuters) - The Indian rupee is likely to open little changed on Tuesday on the back of a recovery in the Chinese yuan and other Asian currencies despite a further rise in U.S. yields. Asian currencies managed a recovery on Tuesday, despite the U.S. Treasury yields. The offshore yuan was back below 7.30 to the dollar on bets of tightening up of offshore yuan liquidity. China's major state-owned banks were seen actively mopping up the offshore yuan on Monday.

Persons: Francis Mascarenhas, Jerome Powell's, Powell, Nimesh Vora, Dhanya Ann Thoppil Organizations: REUTERS, Rights, Reserve Bank of, Treasury, Federal Reserve, ING Bank, ING, U.S, Brent, Thomson Locations: Mumbai, India, Reserve Bank of India

☆ India's central bank urges lenders to de-dollarize trade with the UAE using local currencies
▼ + stars: | 2023-08-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

India's central bank is asking lenders to promote local currencies when trading with the UAE, Reuters reported. The central bank hopes to stem India's outflow of greenbacks and help promote the rupee internationally, according to the report. A central bank official delivered the message to foreign exchange dealers during a seminar this month, Reuters said. The request from the central bank comes as India and the UAE have set themselves on a de-dollarization path. Meanwhile, banks are also offering smaller companies discounted service charges to incentivize local currency transactions.

Persons: South Africa —, Jim O'Neill Organizations: UAE, Reuters, Service, Reserve Bank of India, United Arab, Abu Dhabi National Oil Company, — Locations: India, UAE, Wall, Silicon, United Arab Emirates, Abu Dhabi, Ukraine, Russia, — Brazil, China, South Africa

A Reserve Bank of India (RBI) logo is seen inside its headquarters in Mumbai, India, April 6, 2023. India's trade deficit with the UAE was $21.62 billion in 2022/23, or 8.2% of its total deficit, government data shows. An RBI official communicated this message verbally to foreign exchange dealers at a seminar this month, four sources said. The central bank is "keen that volumes of such trades go up" and "has assured the market that they will be ready to support banks with INR-AED trades," this banker said. "The RBI is telling banks to first encourage large clients and corporates to start INR-AED trades because their balance sheets are relatively stronger," another banker said.

Persons: Francis Mascarenhas, corporates, Siddhi Nayak, Jaspreet, Savio D'Souza Organizations: Bank of India, REUTERS, Rights, United Arab, Reuters, Reserve Bank, Indian Oil Corp, Abu Dhabi National Oil Co, Siddhi, Thomson Locations: Mumbai, India, Rights MUMBAI, DELHI, United Arab Emirates, UAE, dirhams, Abu Dhabi

☆ Rupee likely to decline on yuan-led weakness in Asia fx
▼ + stars: | 2023-08-21 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 21 (Reuters) - The Indian rupee is expected to drop at the opening on Monday, tracking losses in Asian peers and on persisting worries over U.S. yields. Non-deliverable forwards indicate rupee will open at around 83.18-83.20 to the U.S. dollar, compared with 83.1025 in the previous session. The offshore Chinese yuan dropped to near 7.32 to the dollar on Monday despite a smaller-than-expected interest rate cut. More than 90% of the economists had predicted a 15 bps rate cut. Investors expect Chair Jerome Powell to give clarity on the interest rate path.

Persons: Fed's, Jerome Powell, Powell, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S ., Reserve Bank of India, Reuters, Federal Reserve, ANZ, Brent, Thomson Locations: MUMBAI, Mumbai, China

☆ India cenbank issues guidelines to regulate penal charges by banks
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

A Reserve Bank of India (RBI) logo is seen inside its headquarters in Mumbai, India, April 6, 2023. Penalty, if charged, should be treated as "penal charges" and not be levied as "penal interest" on the existing rate charged on loan, the Reserve Bank of India (RBI) said in a notification. The RBI also asked the banks to formulate a board-approved policy on penal charges or similar levies on loans. Further, the quantum of penal charges should be "reasonable" and "not discriminatory" within a particular loan or product category, the bank said. It also sought the lenders to disclose the quantum and reason for penal charges.

Persons: Francis Mascarenhas, Siddhi Nayak, Dhanya Ann Thoppil Organizations: Bank of India, REUTERS, Rights, Reserve Bank of India, Siddhi, Thomson Locations: Mumbai, India

☆ Rupee at risk of falling to record low on surging US yields
▼ + stars: | 2023-08-17 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 17 (Reuters) - The Indian rupee on Thursday is expected to open just shy of its record low in the wake of a further rise in U.S yields on bets that interest rates are likely to say higher for longer. Non-deliverable forwards indicate the rupee will open at around 83.20-83.22 to the U.S. dollar compared with 82.95 in the previous session. The rupee's record low is 83.29, reached in October 2022. A decline below 83.30 for the rupee "would trigger a new round" of dollar buying and "you can expect a sizeable move", he said. Resilient U.S. economic data and worries over supply have been among the reasons cited by analysts for the jump in U.S. yields.

Persons: Nimesh Vora, Nivedita Organizations: U.S, NDF, Reserve Bank of, U.S . Federal, Fed, DBS Research, Brent, Thomson Locations: MUMBAI, India, Reserve Bank of India, Asia

☆ Indian rupee drops below 83/USD, RBI likely intervenes
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Aug 14 (Reuters) - The Indian rupee on Monday declined below 83 to the U.S. dollar for the first time since October 2022, prompting the Reserve Bank of India to intervene, three traders told Reuters. The rupee was at 82.9650 to the dollar by 09:32 a.m. IST, down from 82.8450 on Friday. "It's obviously not a surprise that the RBI is there, but today seemed like the kind of day where it was possible they would relent". The Korean won, the Malaysian ringgit and the Indonesian rupiah were down between 0.6% and 0.8%. Reporting by Nimesh Vora; Editing by Savio D'Souza and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Nimesh Vora, Savio D'Souza, Sonia Cheema Organizations: U.S, Reserve Bank of India, Reuters, Korean, Malaysian, Thomson Locations: MUMBAI

India's annual retail inflation (INCPIY=ECI) rose sharply to 7.44% in July from 4.87% the previous month. Reuters Graphics"The spurt in CPI inflation in July 2023 was on expected lines, however, 7.44% retail inflation was totally unexpected," said Devendra Pant, economist at India Ratings. Food inflation, which accounts for nearly half of the overall consumer price basket, hit a staggering 11.51% in June as compared with 4.49% in June. Retail food inflation was at its highest since January 2020. Even a moderate rise in food inflation tends to anger voters and Dhiraj Nim, economist at ANZ Research, said further measures may be required from the government.

Persons: Devendra Pant, Research's Gaura Sen Gupta, Pant, Narendra Modi's, Dhiraj Nim, Nikunj Ohri, Chizu Nomiyama, Christina Fincher Organizations: REUTERS, DELHI, Reuters, Reserve Bank of India, ANZ Research, Thomson Locations: Kolkata, India

☆ Indian shares set to open lower; domestic inflation data in focus
▼ + stars: | 2023-08-14 | by ( Manvi Pant | ) www.reuters.com time to read: +2 min

A security guard walks past the logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas/File PhotoBENGALURU, Aug 14 (Reuters) - Indian shares on Monday are expected to start on a slightly weaker note in the holiday-truncated week as earnings season draws to a close, ahead of domestic retail inflation data due later in the day. India's GIFT Nifty on the NSE International Exchange was down 0.28% at 19,432 at 7.58 a.m. IST. Foreign investors sold shares worth 30.73 billion Indian rupees ($370.80 million) on Friday, according to provisional data from the National Stock Exchange (NSE). ($1 = 82.8740 Indian rupees)Reporting by Manvi Pant in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Manvi, Eileen Soreng Organizations: National Stock Exchange, REUTERS, NSE, Reserve Bank of India's, ITC, Vodafone, BSE, Associates, Deloitte, Natural Gas Corporation, Jindal Steel, Thomson Locations: Mumbai, India, BENGALURU, China, Beijing, Manvi Pant, Bengaluru

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoAug 11 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Markets are betting that the Fed's most aggressive rate-hiking campaign in more than 40 years is over. The short end of the bond market was a bit more stable, reflecting the view that the Fed is done raising rates. The dollar is nudging 145.00 yen, around where the Bank of Japan spent record yen-buying sums late last year as the yen hurtled to a 33-year low.

Persons: Yen, Dado Ruvic, Jamie McGeever, Brent, Deepa Babington Organizations: REUTERS, Bank of Japan, Reserve Bank of, Thomson, Reuters Locations: Asia, Reserve Bank of India, India, Hong Kong

☆ Uday Kotak is wanting for the market’s support
▼ + stars: | 2023-08-09 | by ( Shritama Bose | ) www.reuters.com time to read: +3 min

Uday Kotak plans to remain on the board of the $44 billion lender carrying his name after he steps down as CEO in December. India’s regulator will bear that in mind as it also decides if someone from inside Kotak Mahindra Bank (KTKM.NS) can succeed the 64-year-old. In the past, the regulator has booted out private bank chiefs for poor management of bad loans and overhauled a bank board where it perceived succession planning was poor. Whatever regulators decide for Uday Kotak and his bank, having the market onside will be helpful all around. Follow @ShritamaBose on TwitterCONTEXT NEWSThe Reserve Bank of India is nudging Kotak Mahindra Bank to select someone outside the lender to succeed billionaire founder Uday Kotak as the next CEO, Bloomberg reported on July 31, citing unnamed sources.

Persons: Uday Kotak, Jamie Dimon, Kotak, Jay, Una Galani, Thomas Shum Organizations: Reuters, Kotak Mahindra Bank, Reserve Bank of India, HDFC Bank, ICICI Bank, Kotak, Reuters Graphics, nudging, Mahindra Bank, Bloomberg, Thomson Locations: MUMBAI, Mumbai

☆ India July inflation likely breached RBI's 6% upper tolerance level - Reuters poll
▼ + stars: | 2023-08-09 | by ( Milounee Purohit | ) www.reuters.com time to read: +2 min

That will hit the vast majority of India's population who make up the poor and middle classes. The Aug. 3-8 Reuters poll of 53 economists predicted the consumer price index (CPI) (INCPIY=ECI) rose at an annual rate of 6.40% in July. "There are no signs of any sequential moderation in food prices in August," noted Rahul Bajoria, chief India economist at Barclays. If the poll median is correct, the current surge in inflation was likely to outstrip the 5.2% the RBI projects for this quarter. The survey also showed wholesale price inflation (INWPI=ECI), the change in producer prices, likely fell 2.70% year-on-year in July, after a 4.12% decline in June.

Persons: Rahul Bajoria, Kunal Kundu, Milounee Purohit, Devayani Sathyan, Veronica Khongwir, Hari Kishan, Alexandra Hudson Organizations: Reserve Bank of India's, Barclays, Societe Generale, Alexandra Hudson Our, Thomson Locations: BENGALURU, India

Aug 10 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Lingering concern over China's slide into deflation and caution ahead of U.S. inflation data will keep markets in check on Thursday, as investors also eye India's interest rate decision, wholesale inflation from Japan and Philippine GDP data. Although Chinese stocks fell for a third day on Wednesday the rest of Asia shrugged off the Chinese deflation figures, and the MSCI Asia ex-Japan index rose 0.5% for its best performance so far this month. Also on the inflation front, the annual rate of Japanese wholesale price inflation is expected to have fallen to 3.5% in July from 4.1% in June. Interest rate markets are pricing in a decent chance of a quarter-point hike, if not this week then certainly by the end of the year.

Persons: Jamie McGeever, Asia shrugged, Fitch Organizations: Reserve Bank of India, Thomson, Reuters Locations: Japan, Philippine, United States, China, Asia, India, Philippines

☆ India rate panel to dial up hawkishness even as it holds policy steady
▼ + stars: | 2023-08-08 | by ( Swati Bhat | ) www.reuters.com time to read: +3 min

A woman walks past the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, April 6, 2023. A July 13-31 Reuters poll of 75 economists showed the central bank was expected to keep its repo rate unchanged at 6.50% at its Aug. 10 policy meeting. The rise in food prices, however, has been sharper than expected this year and is seen lasting longer. The MPC at its June policy meeting also reiterated its intent of nudging inflation towards its medium-term target of 4% and not just holding it below 6%. "It will also possibly emphasise a larger need to be watchful of the second-round effects of high food prices and inflation expectations."

Persons: Francis Mascarenhas, Shah, Pankaj Pathak, Swati Bhat, Sharon Singleton Organizations: Reserve Bank of India, REUTERS, MPC, Capital Economics, DBS Bank, DBS, ANZ, U.S, Fed, AMC, Thomson Locations: Mumbai, India, MUMBAI

☆ Rupee to weaken on dollar rally, RBI likely to intervene
▼ + stars: | 2023-08-08 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 8 (Reuters) - The Indian rupee is expected to open lower on Tuesday, weighed down by the recovery in the dollar index and a decline in Asian peers. Non-deliverable forwards indicate rupee will open at around 82.85 to the U.S. dollar, down from 82.7425 on Monday. The dollar index rose in Asia, and has now recovered a large part of its losses suffered post the U.S. jobs data. Asian currencies were down between 0.2% and 0.6%, with the offshore Chinese yuan slipping to 7.2250 to the dollar. The U.S. inflation data due Thursday is seen key to the Fed's outlook.

Persons: Michelle Bowman, Nimesh Vora, Rashmi Organizations: U.S ., Reserve Bank of India, U.S, U.S . Federal, Reuters, ANZ, Brent, Thomson Locations: MUMBAI, Asia, U.S ., U.S

☆ Rupee to recover on pullback in US yields after jobs data
▼ + stars: | 2023-08-07 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 7 (Reuters) - The Indian rupee is expected to recover on Monday on the back of a pullback in U.S. yields and the decline in the dollar after the U.S. economy added fewer jobs than was forecast. We now move on to the U.S. inflation data and the RBI (Reserve Bank of India)." The 2-year U.S. yield declined while the already low odds of Federal Reserve rate hike in September dropped further. The unemployment rate dropped and wage growth surprised on the upside, suggesting that the U.S. labour market remained resilient. Meanwhile, U.S. consumer inflation data and the RBI policy decision are due Thursday.

Persons: payrolls, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S ., Reserve Bank of India, Federal, Federal Reserve, ING Bank, Brent, Thomson Locations: MUMBAI, U.S

Aug 7 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The U.S. yield curve steepened by 20-30 basis points last week - the biggest steepening since March - and the steepening of the 2-year/30-year yield curve by 30 basis points was one of the biggest weekly moves in over a decade. U.S. fiscal worries are also growing, however, and the Bank of Japan's recent 'yield curve control' surprise has lifted Japanese bond yields. Several potential market-moving data releases and events in Asia are also due, as well U.S. consumer price inflation for July. Monday's calendar in Asia is fairly light, with Indonesian Q2 GDP and Thai inflation for July the main releases.

Persons: Jamie McGeever, JP Morgan, Diane Craft Organizations: Nasdaq, Bank of, Sony, Reuters, Reserve Bank of India, China FX, Thomson Locations: Indonesia, Philippines, Asia, Japan, U.S, China, Beijing, Thailand

☆ State Bank of India first-quarter profit nearly triples to all-time high
▼ + stars: | 2023-08-04 | by ( Siddhi Nayak | ) www.reuters.com time to read: +2 min

A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. Net profit was at a record 168.84 billion rupees ($2.04 billion) for the quarter ended June 30, compared with 60.68 billion rupees a year earlier. Rivals HDFC Bank (HDBK.NS) and ICICI Bank (ICBK.NS) have reported double-digit net interest income growth for the fiscal first quarter. The net NPA ratio rose to 0.71% from 0.67% in the prior three months. The bank expects its net NPA ratio to fall to 0.5% in the next few quarters, Khara said.

Persons: Chowdhuri, Dinesh Kumar Khara, Khara, SBI's, Siddhi Nayak, Sonia Cheema Organizations: State Bank of India, REUTERS, Rivals HDFC Bank, ICICI Bank, Reserve Bank of India, Siddhi, Thomson Locations: Kolkata, India, MUMBAI, BENGALURU

☆ Rupee likely to remain under pressure on rising US yields
▼ + stars: | 2023-08-04 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

FILE PHOTO-A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas/File PhotoMUMBAI, Aug 4 (Reuters) - The Indian rupee is expected to remain under pressure on Friday after longer maturity U.S. yields reached the highest level this year. Non-deliverable forwards indicate the rupee will open slightly weaker to the U.S. dollar from 82.7225 in the previous session. "The rupee and the whole EM complex will not see any sort of relief if the volatility in U.S. yields remains high." The Fitch downgrade of the U.S. credit rating, broadly resilient U.S. data and rising U.S. inflation expectations have contributed to the selloff in Treasuries.

Persons: Francis Mascarenhas, Fitch, Nimesh Vora, Sonia Cheema Organizations: REUTERS, U.S, Reserve Bank of India, U.S ., Reuters, NFP, DBS Research, Brent, Thomson Locations: Mumbai, India, MUMBAI, Treasuries, U.S

BENGALURU, Aug 1 (Reuters) - The Reserve Bank of India (RBI) will hold its key interest rate at 6.50% through end-March 2024, according to a Reuters poll of economists, who pushed back their expectations for the first rate cut to the second quarter of 2024 from the first quarter in a June survey. Few are forecasting a plunge in coming months, offering little reason for the RBI to change policy now. Indeed, inflation is expected to average above 5% this fiscal year, which ends on March 31, 2024, above the RBI's 4% medium-term target. In a June survey, economists predicted the RBI to cut the repo rate by 25 basis points by end-March 2024 and another 25 basis points in the April-June quarter. Among those who offered forecasts until March 2024, a slim majority, 32 of 62, expected rates to hold at 6.50%, while 20 saw a cut to 6.25%, and 10 said 6.00% or lower.

Persons: Suman Chowdhuri, Anant Chandak, Veronica Khongwir, Susobhan Sarkar, Hari Kishan, Ross Finley, Tomasz Janowski Organizations: Reserve Bank of India, U.S . Federal Reserve, Thomson Locations: BENGALURU

Bankers have been worried about the eventual outflows of these funds, but RBI officials have assured them in informal meetings that they have adequate buffers to manage such an eventuality, the banking sources said. "Whenever banks have expressed concerns about potential outflows on the forex and debt market, the RBI has always responded positively," said a treasury official at a state-run bank. The official and other sources requested not to be named as they are not authorized to speak to the media. The RBI has never disclosed the quantum of such funds, the sources said. Reporting by Ira Dugal, Siddhi Nayak and Dharamraj Dhutia; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: CLSA, Ira Dugal, Siddhi Nayak, Dharamraj, Savio D'Souza Organizations: Reserve Bank of, U.S, Bankers, Reuters, Thomson Locations: MUMBAI, Reserve Bank of India, India, Siddhi

☆ Indian factory growth eased for second month in July, but kept healthy pace
▼ + stars: | 2023-08-01 | by ( Anant Chandak | ) www.reuters.com time to read: +2 min

BENGALURU, Aug 1 (Reuters) - Growth in India's manufacturing activity eased in July for a second month, with some moderation in output and new orders, although the pace of expansion remained healthy, a private business survey showed on Tuesday. The sector has remained resilient despite declines in manufacturing activity in other major producers, suggesting Asia's third-largest economy is still on robust footing. "The Indian manufacturing sector showed little sign of losing growth momentum in July as production lines continued to motor on the back of strong new order growth." New orders remained robust in July, and while output growth moderated to a three-month low it remained strong. With input prices rising at the quickest pace since October, output prices also rose, but at a slower pace compared with the previous month, highlighting uncertainty regarding inflation.

Persons: Andrew Harker, Harker, Anant Chandak, Kim Coghill Organizations: Manufacturing, P, P Global Market Intelligence, Bank of, Thomson Locations: BENGALURU, Bank of India

☆ Rupee ends at 3-wk high on dollar inflows; Fed meet in focus
▼ + stars: | 2023-07-24 | by ( Sethuraman N R | ) www.reuters.com time to read: +1 min

Likely corporate dollar inflows related to an Indian conglomerate was the major driver for the rupee's move, traders and analysts said. There are possibilities of central bank intervention given that it has previously bought dollars in the 81.85-81.90 range, said Dilip Parmar, research analyst at HDFC Securities. The appreciation in the rupee is also on the moderate side given the rise in the dollar index, Parmar said. The dollar inflows into equities have also been helping the rupee, traders added. The dollar index , on the other hand, has recovered from 15-month lows hit last week and was up 0.2% on Monday.

Persons: Dilip Parmar, Parmar, India's, Avni Jain, Sonia Cheema Organizations: U.S ., HDFC Securities, Reserve Bank of India, U.S . Federal, European Central Bank, Bank of, FX, HDFC Bank, Sethuraman NR, Thomson Locations: BENGALURU, Bengaluru

Search resuls for: "Reserve Bank of India"

25 mentions found