Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> depreciated by 14 paise to 79.66 against the US dollar in opening trade on Thursday, tracking the strength of the American currency overseas. At the interbank foreign exchange market, the rupee opened at 79.55 against the greenback, then fell further to 79.66, registering a decline of 14 paise over its last close. On Tuesday, the rupee had finished at a nearly two-week high of 79.52. The domestic forex market was closed on Wednesday on account of Ganesh Chaturthi. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.28 per cent to 109. The rupee opened weaker against the dollar as prospects of further aggressive policy tightening by the US Federal Reserve and the European Central Bank (ECB) weighed on Asian currencies and equities, said Sriram Iyer, Senior Research Analyst at Reliance Securities. "Oil prices remained subdued this Thursday and could cap losses, but weak Asian and emerging market peers will cap gains," Iyer said, adding the range for the rupee in this session is 79.30 to 79.75. The global oil benchmark Brent crude futures fell 2.84 per cent to USD 96.49 per barrel. On the domestic equity market front, the 30-share BSE Sensex was trading 683.03 points or 1.15 per cent lower at 58,854.04, while the broader NSE Nifty was down 189.55 points or 1.07 per cent to 17,569.75. Foreign institutional investors turned net buyers in the capital market on Tuesday as they purchased shares worth Rs 4,165.86 crore, as per exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dreamfolks-services-ipo-heres-how-you-can-check-the-allotment-status/articleshow/93918081.cms">DreamFolks Services IPO: Here’s how you can check the allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/this-multi-cap-fund-has-survived-the-worst-market-cycles-and-yet-delivered-the-highest-returns/articleshow/93914048.cms">This multi-cap fund has survived the worst market cycles and yet delivered the highest returns</a>

Rupee falls 14 paise to 79.66 against US dollar in early trade

Rupee vs Dollar: How will the currency depreciation impact the economy

The <keyword id="6355302" type="General" weightage="80" keywordseo="rupee" source="Orion">rupee</keyword> has been weakening against the US dollar since the beginning of the year and hit a lifetime low this week. While the <a href="https://www.businessinsider.in/finance/news/rupee-at-80-heres-how-a-falling-rupee-could-impact-indias-current-account-deficit/articleshow/92897064.cms">octogenarian currency</a> has disheartened many Indian students preparing to fly abroad, the Indian textile industry might be lining up bigger stacks of clothes to ship out abroad. <div type="image" title="Indian exports will benefit from Rupee depreciation" msid="93040000" hostid="261" caption="&amp;lt;p&amp;gt;Indian exports will benefit from Rupee depreciation&amp;lt;/p&amp;gt;"></div> As per the Ministry of Commerce and Industry, the<a href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1839164#:~:text=INDIA'S%20MERCHANDISE%20TRADE%3A%20Preliminary%20Data,32.49%20billion%20in%20June%202021."> export of readymade</a> garments (RMG) of all textiles contributed 3.80% to the country’s total merchandise export in April-June 2022. India’s RMG <keyword id="35090" type="General" weightage="20" keywordseo="Exports" source="Orion">exports</keyword> were worth $1449.3 million in June 2022, against export of $1003.3 million in June 2021, reporting growth of 44.67%. Overall, Indian merchants will earn more for the same orders as the rupee falls because they get more rupees for every dollar earned. India has achieved a monthly value of merchandise export in June 2022 amounting to $37.94 billion, an increase of 16.78% over %32.49 billion in June 2021. <div type="image" title="India’s top exports in 2022" msid="93040029" hostid="261" caption="&amp;lt;p&amp;gt;India&amp;#8217;s top exports in 2022 &amp;lt;/p&amp;gt;"></div> What does India export and how do exporters benefit from a stronger dollar? Apart from textile, engineering goods, petroleum products, gems and jewellery, chemicals were the top five commodities exported from India. These merchants would now gain a competitive advantage due to the sharp decline in the rupee. Simply put, Indian exporters will benefit from a stronger dollar as their income is in US dollars and expenditure is in rupees, which means they gain when exchanging the USD to INR to pay salaries and rents. <div type="image" title="Exports of Top 10 Major Commodity Groups in India in June 2022" msid="93040044" hostid="261" caption="&amp;lt;p&amp;gt;Exports of Top 10 Major Commodity Groups in India in June 2022&amp;lt;/p&amp;gt;"></div> The gap in India’s trade deficit might tighten afterall India runs a trade <a href="https://www.businessinsider.in/finance/news/why-and-which-countries-would-want-to-trade-with-india-in-rupees/articleshow/92856587.cms">deficit</a> – which means that it <keyword id="35091" type="General" weightage="20" keywordseo="imports" source="Orion">imports</keyword> more than it exports. India’s imports exceeded exports by over $87 billion (about ₹6.87 lakh crore) in 2021-22. The weakening of the rupee makes exports more viable but imports become more <keyword id="6359333" type="General" weightage="20" keywordseo="expensive" source="Orion">expensive</keyword> in rupees. Non essential imports will be discouraged to prevent a further outflow of dollars from the country. This, in turn, would improve the deficit that India runs. Typically India’s trade deficit is compensated by capital flows but with FPI selling, there is further pressure on the rupee. India is the world’s second-biggest consumer of gold. In a bid to reduce demand for the yellow metal, India raised its basic import duty on gold to 15% from 10.75% earlier this month. On top of that, RBI’s latest decision to<a href="https://www.businessinsider.in/finance/news/why-and-which-countries-would-want-to-trade-with-india-in-rupees/articleshow/92856587.cms"> allow international trade </a>in rupees is expected to reduce the pressure on India’s forex reserves. Bidding war on the docks? Indian merchants will have to prepare for a tough bidding war. They will have to compete with exporters of other countries like Philippines and Thailand, whose currencies have declined more than the rupee against the greenback and their exports have been on an upward trend. <div type="image" title="Indian exporters in a bidding war with currencies that have declined more than the Rupee against the Dollar" msid="93040088" hostid="261" caption="&amp;lt;p&amp;gt;Indian exporters in a bidding war with currencies that have declined more than the Rupee against the Dollar&amp;lt;/p&amp;gt;"></div> Neighbouring country China is the world’s <a href="https://worldpopulationreview.com/country-rankings/exports-by-country">largest </a>exporter. In 2021, China <a href="https://economictimes.indiatimes.com/news/international/business/chinas-trade-surplus-surges-to-record-676-4b-in-2021/articleshow/88890056.cms">exported </a>an estimated $3.3 trillion in 2021 trillion worth of goods and services, primarily electronic equipment and machinery such as broadcast equipment, computers, integrated circuits, office machine parts, and telephones. China also had a $73-billion trade <a href="https://www.businessinsider.in/finance/news/why-and-which-countries-would-want-to-trade-with-india-in-rupees/articleshow/92856587.cms">surplus </a>with India in 2021-22 – that is, Indian imports from China exceeded its <a href="https://www.businessinsider.in/finance/news/why-and-which-countries-would-want-to-trade-with-india-in-rupees/articleshow/92856587.cms">exports </a>to China by $73 billion. As the Chinese currency yuan also <a href="https://theprint.in/world/chinese-yuan-weakens-to-6-7071-against-dollar/1023534/">dropped </a>and given that the country enjoys a dominant position in international export markets, India would see increased pricing competition. With a weaker rupee, foreign education could get more expensive While rupee’s value deprecation is good news for merchants, India’s students who are planning to study abroad might have to restructure your budget. Students will have to shell out more rupees for every dollar they spend. Simply put, you will have to spend over 21% more in terms of rupee to buy the same number of dollars. If you budgeted ₹20 lakh for your education abroad, you will now have to increase it to ₹24.2 lakh. International travel now more expensive After the lockdown, the travel sentiment has been high among consumers. As the rupee loses value against the US dollar, your plans to travel abroad will burn a deeper hole in your pocket – like everything, paying for your purchases in foreign currency, more so the US dollar, is now more expensive than ever before. Here's a short video <div type="image" title="The falling Rupee and its impact on travel and foreign education" msid="93040134" hostid="261" caption="&amp;lt;p&amp;gt;The falling Rupee and its impact on travel and foreign education&amp;lt;/p&amp;gt;"></div>

SIMPLY PUT: A weak rupee will be a bonanza for India’s exporters

The falling Rupee and its impact on travel and foreign education

Earlier this week, the Indian <keyword id="6355302" type="General" weightage="100" keywordseo="rupee" source="Orion">rupee</keyword> nosedived 51 paise, <a href="https://www.businessinsider.in/finance/news/rupee-hits-all-time-low-of-77-42-against-us-dollar/articleshow/91439581.cms">hitting an all-time low</a> of ₹77.41 against the US dollar. <div type="image" title="Rupee hit a lifetime low of 77.41 earlier this week" msid="91525914" hostid="261" caption="&amp;lt;p&amp;gt;Rupee hit a lifetime low of 77.41 earlier this week&amp;lt;/p&amp;gt;"></div> Earlier last week, the Indian rupee had appreciated eight paise after India’s central bank, the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>, <a href="https://www.businessinsider.in/finance/banks/news/rbi-hikes-repo-rate-by-40-basis-points-to-4-4-as-it-seeks-to-reign-in-inflation/articleshow/91311941.cms">increased interest rates</a> by 40 basis points on May 04, only to tumble further below this week. 100 basis points make one percent. The rupee has been staggering since the beginning of the year. <div type="image" title="Rupee depreciation in last one month" msid="91525962" hostid="261" caption="&amp;lt;p&amp;gt;Rupee depreciation in last one month&amp;lt;/p&amp;gt;"></div> This depreciating rupee, which is a fall in the value of a currency in terms of its exchange rate versus other currencies, is likely to have a direct impact on your daily expenditure. Imports now more expensive, while exports are cheaper With a small dip in the <keyword id="50739" type="General" weightage="20" keywordseo="indian-currency" source="Orion">Indian currency</keyword>, the Indian government has to pay a little extra for the same goods it was importing earlier. So, importing items get more expensive. Oil imports will get costlier, which has a direct impact on prices of many other things – anything that needs to be transported will (if it hasn’t, already) now see an increase in its prices. India currently imports <a href="https://www.businessinsider.in/finance/news/crude-oil-surges-significantly-to-109-per-barrel-as-countries-look-for-options-other-than-russia/articleshow/89936843.cms">85% of its oil demand </a>and the rise in crude oil prices directly increases import bill and expenses. Your investment portfolio is likely to be affected If foreign investors pull out of Indian equities, Indian currency depreciates, leading to a sharp decline in equity markets. Foreign investors have already <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-1-5-lakh-crore-from-the-indian-markets-in-2022-so-far-heres-why/articleshow/91485411.cms">pulled out over ₹6,400 crore</a> from the Indian equity markets in the first four trading sessions of May when the Reserve Bank of India (RBI) and <a href="https://www.theguardian.com/business/federal-reserve">US Federal Reserve</a> raised interest rates. Given the headwinds in terms of elevated crude oil prices, inflation, and monetary tightening (also known as Quantitative Tightening), market volatility is expected to remain high as foreign investors could continue to withdraw funds. Foreign education could get more expensive If you are planning to study abroad, you might have to restructure your budget. You will have to shell out more rupees for every dollar you spend. Simply put, you will have to spend over 21% more in terms of rupee to buy the same number of dollars. If you budgeted ₹20 lakh for your education abroad, you will now have to increase it to ₹24.2 lakh. <div type="image" title="Foreign education will get more expensive" msid="91525979" hostid="261" caption="&amp;lt;p&amp;gt;Foreign education will get more expensive&amp;lt;/p&amp;gt;"></div> International travel now more expensive During summer, the travel sentiment is high among consumers. As the rupee loses value against the US dollar, your plans to travel abroad will burn a deeper hole in your pocket – like everything, paying for your purchases in foreign currency, moreso the US dollar, is now more expensive than ever before. A weaker rupee results in expensive imports, and contributes to inflation <a href="https://www.livemint.com/economy/indias-inflation-likely-accelerated-to-18-month-high-in-april-poll-11652181052993.html">India's retail inflation</a> surged to an 18-month high in April, largely driven by rising fuel and food prices and staying well above the RBI's upper tolerance limit for a fourth consecutive month, a Reuters poll found. As the rupee weakens against the dollar and import prices hike, companies may not be able to absorb this increase in cost and may pass it on to consumers. Increase in your home loan EMIs and more To keep inflation in check, RBI resorts to increasing its interest rates. If the RBI expects that inflation will rise beyond its tolerance limit, it hikes the rate at which banks borrow money from the RBI, which is also known as the repo rate. When repo rate increases, the cost of borrowing for banks also increases, which is passed to their account holders by increasing the interest rate on loans and deposit rates. Some banks have already announced an increase in interest rates on home loans – HDFC has <a href="https://economictimes.indiatimes.com/wealth/borrow/hdfc-hikes-home-loan-interest-rates-this-is-how-much-your-emi-will-go-up-by/articleshow/91434723.cms">increased</a> its interest rates for retail home loans by 30 basis points, with the new rates now in the range of 7-7.45%. But what has caused the decline of the Indian rupee? The value of any currency depends on its demand in the market. If the demand increases, its value goes up, which is known as appreciation. And if the demand for a currency declines, its value depreciates. If more foreign investors invest in Indian businesses and projects, the demand for Indian currency goes up. To be able to invest in India, foreign companies have to first convert their currency into Indian rupees. This increase in demand for the rupee strengthens its value against the US dollar. Recently, more and more overseas investors have pulled out a big chunk of their money from the Indian market, consequently <a href="https://www.businessinsider.in/stock-market/news/the-stock-markets-are-going-through-a-short-term-correction-and-now-might-be-a-good-time-to-invest-in-valued-stocks-say-analysts/articleshow/91369077.cms">affecting market sentiment</a> and currency’s decline. <div type="image" title="Foreign investors have pulled out `1.5 lk cr in 2022 so far" msid="91526033" hostid="261" caption="&amp;lt;p&amp;gt;Foreign investors have pulled out `1.5 lk cr in 2022 so far&amp;lt;/p&amp;gt;"></div> The <a href="https://www.theguardian.com/business/federal-reserve">Federal Reserve</a> has raised interest rates for the first time since 2018, as the US central bank struggles with soaring inflation, the impact of the war in Ukraine and the COVID crisis. As interest rates soar, investors start pulling money out of riskier investments like equities, commodities and foreign markets. The annual <a href="https://www.businessinsider.in/policy/economy/news/inflation-slowed-in-april-for-the-first-time-in-8-months/articleshow/91496347.cms">inflation rate in the US</a> is now at 8.3%, which also affects market sentiment. Here’s an <a href="https://youtu.be/eADkfR1PUeU">explainer by Stocktwits India </a>on how the global inflation rate affects India and what the government is doing to combat it. Therefore, foreign investors are exiting their investments in India, and shoring up their investments in the relatively safer markets in the US. On the other hand, when Indian businesses and companies import foreign goods and products, such as crude oil, gold, consumer electronics, among other things, they convert their rupees into dollars, which is the global currency for international trades. If imports exceed exports, demand for the dollar goes up and the rupee weakens against it. Since India has been a <a href="https://www.indiatoday.in/news-analysis/story/current-account-surplus-india-net-exporter-explainer-1705281-2020-07-28">net importer</a>, we import more than we export, the rupee has gradually depreciated over time. <div type="image" title="Rupee vs Dollar in the last five years" msid="91526067" hostid="261" caption="&amp;lt;p&amp;gt;Rupee vs Dollar in the last five years&amp;lt;/p&amp;gt;"></div> As the upward trend of the graph shows, you had to shell out ₹64 in May 2017 for 1 US dollar. Today, you have to pay ₹77.26 in exchange for a dollar. To deal with this <keyword id="688216" type="General" weightage="20" keywordseo="Rupee-depreciation" source="Orion">rupee depreciation</keyword>, you can reevaluate your investment portfolio and consider companies that have a substantial amount of foreign exchange earnings such as in sectors like pharma, FMCG, and IT. Here's a short video <div type="image" title="Here&amp;#39;s what happens when the Rupee depreciates" msid="91526220" hostid="261" caption="&amp;lt;p&amp;gt;Here&amp;#39;s what happens when the Rupee depreciates&amp;lt;/p&amp;gt;"></div> Disclaimer: This is not investment advice, it is for informational purposes only.

SIMPLY PUT: Why is the rupee falling and how it affects your food, education, healthcare and other expenses

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s software export revenue and remittances act as a strong counter-cyclical buffer against the increase in current account deficit (<keyword id="52599" type="General" weightage="80" keywordseo="cad" source="Orion">CAD</keyword>) due to a hike in global oil prices and rupee depreciation, said the State Bank of India's (SBI) Chief Economic Adviser. In a research report Dr <keyword id="6448502" type="General" weightage="50" keywordseo="soumya-kanti-ghosh" source="Orion">Soumya Kanti Ghosh</keyword>, Group Chief Economic Adviser, SBI, said for every rupee depreciation, software exports increase by $250 million. <keyword id="4757" type="General" weightage="80" keywordseo="ghosh" source="Orion">Ghosh</keyword> said contrary to the expectations, the Q1FY23 Balance of Payments (BOP) numbers have shown a strong counter-cyclical buffer in the form of service exports and remittances. For example, in Q1, India's CAD was expected to reach $30 billion/3.8 per cent of gross domestic product (GDP), but the actual numbers came in at 2.8 per cent of GDP. The positive surprise was because of strong remittances and software exports, the CAD got a lift of 60 basis points, Ghosh said. "We expect that if such trends of strong remittances and software exports have continued (<keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> data suggests software exports in Q2 were strong) in Q2, and India's CAD comes in below the threshold level of 3.5 per cent of GDP in Q2, the CAD for FY23 could still be closer to 3 per cent benchmark and not in excess of 3.5 per cent of GDP," he added. Also, forex reserves could jump by another $5 billion as swap transactions reverse and thus have a positive impact on the rupee as is being currently witnessed, he noted. To understand the factors that are impacting India's CAD, Ghosh worked on the structural vector auto-regressions (SVAR) model. With oil forming 30 per cent of India's import bill, it has a major impact on macroeconomic variables. An increase in oil import price impacts directly the trade deficit and consequently, CAD gets widened. That apart, it also results in inflation. According to Ghosh, the SVAR model introduces a counter-cyclical response to increased oil prices in the form of software service exports that is impacted positively because of rupee depreciation. "Although remittances are positively impacted, we have not considered them in our SVAR model because of data volatility." The results of the SVAR model clearly give an idea of the negative impact of oil price shock on CAD, inflation and growth in one direction and the positive impact of software exports on CAD as a result of rupee depreciation. In particular, a positive shock to oil prices leads to an immediate and sharp increase in CAD, which dissipates completely in about eight quarters. The trade deficit also increases up to two quarters after the initial positive oil price shock, he said. "This implies that India's trade deficit may already have been adversely impacted for the first half of the current fiscal because of the oil price shock," Ghosh said. In the case of GDP, a positive shock to oil prices leads to an immediate decline, which however starts reversing after the third quarter and completely dissipates after the seventh quarter. "This implies that India's first-half GDP growth in FY23 could have been impacted because of the oil price shock. Most interestingly, the rupee-dollar exchange rate also gets impacted and it depreciates slightly after an increase in oil prices till three quarters following which it starts appreciating," he said. As a result, the rupee outlook is likely to improve in Q4 of FY23. The impact of oil price on consumer price index (CPI) inflation will dissipate after four quarters and it means that the CPI inflation outlook for FY24 will be consistent with RBI's forecast of 5 per cent. Ghosh said India's software exports are on the rise with the share of the offsite mode of exports by Indian IT service companies increasing to 88.8 per cent in FY22 compared to 82.8 per cent five years ago. Ghosh said a $10 increase in crude oil prices leads to an increase of 40 bps in CAD, 50 bps in CPI and a 23 bps decline in growth with software exports acting as a counter-cyclical buffer. "The exchange rate pass-through from variance decomposition method shows it is at least 10 per cent for CAD, inflation and growth, but significantly stronger at 35 per cent for software exports. For every rupee depreciation, software exports increase by $250 million," Ghosh added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bears-weigh-on-indian-markets-due-to-negative-global-cues/articleshow/95418328.cms">Bears weigh on Indian markets due to negative global cues</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fusion-micro-finance-ipo-allotment-how-to-check-allotment-status-listing-date-and-more/articleshow/95407416.cms">Fusion Micro Finance IPO allotment – How to check allotment status, listing date and more</a>

For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor

<keyword id="18712" type="General" weightage="20" keywordseo="Gold" source="Orion">Gold</keyword> in the national capital on Thursday gained Rs 487 to Rs 52,566 per 10 grams amid a rise in international precious metal prices along with <keyword id="688216" type="General" weightage="20" keywordseo="Rupee-depreciation" source="Orion">rupee depreciation</keyword>, according to <keyword id="103838" type="General" weightage="80" keywordseo="hdfc-securities" source="Orion">HDFC Securities</keyword>. The yellow metal had closed at Rs 52,079 per 10 grams in the previous trade. <keyword id="35264" type="General" weightage="20" keywordseo="Silver" source="Orion">Silver</keyword> also rose by Rs 426 to Rs 58,806 per kg from Rs 58,380 per kg in the previous trade. The rupee depreciated 36 paise to 79.51 against the US dollar in opening trade on Thursday, as disappointing macroeconomic data and US-China tensions weighed on investor sentiment. In the international market, gold was trading higher at USD 1,774 per ounce while silver was flat at USD 20.12 per ounce. "Gold prices traded higher with spot gold prices at COMEX trading 0.58 per cent at USD 1,774 per ounce on Thursday," said <keyword id="2366079" type="General" weightage="80" keywordseo="tapan-patel" source="Orion">Tapan Patel</keyword>, Senior Analyst (Commodities) at HDFC Securities. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/oneplus-10t-vs-oneplus-10r-vs-oneplus-10-pro-check-out-difference-between-these-same-series-phones/articleshow/93346293.cms">OnePlus 10T vs OnePlus 10R vs OnePlus 10 Pro – which OnePlus flagship should you buy?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/tn-govt-steps-up-efforts-to-stop-glue-traps-that-subject-rats-to-a-slow-painful-death/articleshow/93346502.cms">TN govt steps up efforts to stop glue traps that subject rats to a slow, painful death</a>

Gold prices rise by ₹487, silver gains ₹426 on global price rise, rupee depreciation

The <keyword id="6355302" type="General" weightage="20" keywordseo="Rupee" source="Orion">rupee</keyword> depreciated 14 paise to 82.35 against the <keyword id="6368584" type="General" weightage="20" keywordseo="US-dollar" source="Orion">US dollar</keyword> in the morning trade on Wednesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, risk aversion sentiment among investors and weak Asian and emerging market currencies weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.32 against the dollar, then lost further ground to 82.35, registering a loss of 14 paise over its previous close. In a highly volatile session, the local unit also touched 82.28 against the American currency in initial deals. On Tuesday, the rupee rebounded from its all-time low to close 19 paise higher at 82.21 against the US dollar. "Most Asian and emerging market peers were weaker this Wednesday and will weigh on sentiments," Sriram Iyer, Senior Research Analyst at Reliance Securities said, adding that investors will remain cautious ahead of the release of key domestic macro data. India's inflation, IIP and manufacturing output are due today, while the more important FOMC minutes are scheduled for late evening. "Investors will also await a key US inflation report tomorrow that is expected to influence the Federal Reserve's monetary policy stance," Iyer said, adding that the RBI will remain proactive if the rupee's volatility increases during the day. Meanwhile, the <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, rose 0.23 per cent to 113.48. Brent crude futures, the global oil benchmark, fell 0.67 per cent to USD 93.66 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 229.6 points or 0.40 per cent up at 57,376.92, and the broader NSE Nifty rose 71.60 points or 0.42 per cent to 17,055.15. <keyword id="6438315" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 4,612.67 crore on Tuesday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-open-in-the-green-despite-weak-global-cues/articleshow/94801998.cms">Markets open in the green despite weak global cues</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/trs-opposes-parliamentary-committees-recommendation-to-replace-english-with-hindi-in-iits/articleshow/94803484.cms">TRS opposes parliamentary committee's recommendation to replace English with Hindi in IITs</a>

Rupee falls 14 paise to 82.35/USD amid sustained forex outflows

As rupee lost nearly 10 paise and closed at 68.47 at over two-year low, there are chances that rupee may hit a record low at 70 to the dollar. 
Global investors are worried over market uncertainty and are pulling out funds. As per a poll by ET, the slump will further to a new low by the end of the year. 
 
The poll revealed that rupee would slip to 72 against the dollar by December. 
 The depreciation of rupee does not reflect the <keyword id="6356076" type="UNKNOWN" weightage="20" keywordseo="indian-economy">Indian economy</keyword> but paints a reality picture of global economy. 
 
The sliding rupee, as per experts, could also help exports that have fallen for 14 months in a row. 
 
Hitting to a new record low, rupee has been one of the worst-performing currencies in 2016. 
 
“Risk aversion has taken centre stage with lower oil and commodity prices since the beginning of this year. There have been outflows from emerging market equity and debt funds, mainly on the back of withdrawals from institutional investors. Personally, I expect the rupee to weaken to 69.25 by March," MS Gopikrishnan, head of FX, rates and credit trading at Standard Chartered Bank told ET. 
 
Where investors pulling out are concerned, the fear is over US going back into recession. 
 
India is still preferred among emerging markets by brokerages such as CLSA and Morgan Stanley. 
 "Rising bond yields are a concern for overseas investors, who now may be looking to exit domestic debt securities amid increased <keyword id="170327" type="UNKNOWN" weightage="20" keywordseo="Currency-market">currency market</keyword> volatility," Anindya Banerjee, associate vice-president for currency and interest rate derivatives at Kotak Securities told ET, adding "Some option trades are already signalling future fund outflows."

Rupee may depreciate to hit a record low at 70 to the dollar by the end of this year

As predicted earlier, the Indian <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> on Tuesday crossed Rs 80 for a US dollar. The fall in rupee's value is owing to multiple factors like Russia-Ukraine war, outflow of foreign institutional investors and others, said experts. Experts also said though the rupee has depreciated against the dollar, it has appreciated against other currencies. Global risk aversion has led to rupee depreciation against the dollar; however, the decline is pretty tolerable. Even though rupee touched the psychological mark of 80 per dollar, rupee has indeed appreciated against the majority of leading currencies like Euro, GBP and <keyword id="76265" type="General" weightage="80" keywordseo="yen" source="Orion">Yen</keyword>, said Aishvarya <keyword id="14497106" type="General" weightage="80" keywordseo="dadheech" source="Orion">Dadheech</keyword>, Fund Manager, Ambit Asset Management. Dadheech said, forex reserve remains at healthy levels and recent measures by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>) will help overcome dollar shortage. Fundamentals of Indian rupee are intact and the recent correction (due to global risk off sentiment) is an overreaction. "We believe INR (Indian Rupee) will remain range bound and foreign investors will see this as an opportunity, and will be tempted to lock in at these levels," Dadheech added. "The major reasons for the weakening of Indian Rupee against the US Dollar are global factors that include Russia-Ukraine war, rising crude oil prices, tightening of global liquidity and significant FII outflows," <keyword id="26593" type="General" weightage="80" keywordseo="arun-kumar" source="Orion">Arun Kumar</keyword>, Head of Research, FundsIndia.As predicted earlier, the Indian rupee on Tuesday crossed Rs 80 for a US dollar. The fall in rupee's value is owing to multiple factors like Russia-Ukraine war, outflow of foreign institutional investors and others, said experts. Experts also said though the rupee has depreciated against the dollar, it has appreciated against other currencies. Global risk aversion has led to rupee depreciation against the dollar; however, the decline is pretty tolerable. Even though rupee touched the psychological mark of 80 per dollar, rupee has indeed appreciated against the majority of leading currencies like Euro, GBP and Yen, said Aishvarya Dadheech, Fund Manager, Ambit Asset Management. Dadheech said, forex reserve remains at healthy levels and recent measures by the Reserve Bank of India (RBI) will help overcome dollar shortage. Fundamentals of Indian rupee are intact and the recent correction (due to global risk off sentiment) is an overreaction. "We believe INR (Indian Rupee) will remain range bound and foreign investors will see this as an opportunity, and will be tempted to lock in at these levels," Dadheech added. "The major reasons for the weakening of Indian Rupee against the US Dollar are global factors that include Russia-Ukraine war, rising crude oil prices, tightening of global liquidity and significant FII outflows," Arun Kumar, Head of Research, FundsIndia.

Rupee falls below 80/$ but it appreciated against Euro and others, point out experts

New Delhi, Feb 18 () Gold prices on Tuesday rose by Rs 239 to Rs 41,865 per 10 gram in the national capital on positive global cues and rupee depreciation, according to HDFC Securities. The yellow metal had closed at Rs 41,626 per 10 gram in the previous session. Silver prices also jumped Rs 296 to Rs 47,584 per kg from Rs 47,288 per kg on Monday. "Spot gold for 24 karat in Delhi traded higher by Rs 239 with strong international prices and rupee depreciation. The spot rupee was trading around 23 paise weaker against the dollar for the day," HDFC Securities Senior Analyst (Commodities) Tapan Patel said. The Indian rupee declined by 10 paise to 71.42 against the US dollar in opening trade. The warning by Apple Inc to miss its revenue forecast in March quarter also spurred safe haven buying in gold, Patel added. In the international market, both gold and silver were trading higher at USD 1,588 per ounce and USD 17.88 per ounce, respectively. RVK SHWSHW

Gold rises Rs 239 on global cues, rupee depreciation

New Delhi, Mar 18 () Gold prices on Wednesday rose by Rs 311 to Rs 40,241 per 10 gram in the national capital amid rupee depreciation and higher buying, according to HDFC Securities. The precious metal had closed at Rs 39,930 per 10 gram on Tuesday. "Spot gold for 24 karat in Delhi was trading up by Rs 311, reflecting Tuesday's gains of international gold prices. Gold prices in India also got support from rupee depreciation with spot rupee trading around 13 paise weaker against the dollar during the day," HDFC Securities Senior Analyst (Commodities) Tapan Patel said. Silver prices, however, fell by Rs 468 to Rs 35,948 per kg against the previous close of Rs 36,416 per kg. In the international market, both gold and silver were trading lower at USD 1,490 per ounce and USD 12.38 per ounce, respectively. Meanwhile, the domestic equity market continued the weak trend, closing 1,709.58 points lower. SUM RVK

Gold gains Rs 311 on higher demand, rupee depreciation

New Delhi, Feb 13 () Gold prices on Thursday rose by Rs 266 to Rs 41,484 per 10 gram in the national capital on positive global cues and rupee depreciation, according to HDFC Securities. The precious metal had closed at Rs 41,218 per 10 gram on Wednesday. "Spot gold for 24 karat in Delhi rose by Rs 266 with recovery in global gold prices and rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said. The spot rupee was trading around 10 paise weaker against the dollar during the day, he added. The rupee opened on a weak note and declined 9 paise to 71.42 against the US dollar in opening trade on Thursday. Silver prices, however, fell by Rs 55 to Rs 46,630 per kg from Rs 46,685 per kg in the previous trade. In the international market, both gold and silver were trading with gains at USD 1,574 per ounce and USD 17.64 per ounce, respectively. "Gold prices traded higher on safe-haven buying with rise in number of new coronavirus cases," Patel said. SUM RVK

You Searched For "Rupee depreciation" and got 13 results