'Real' depreciation of Indian rupee between six to seven per cent: IMF
6 years, 3 months ago

'Real' depreciation of Indian rupee between six to seven per cent: IMF

India TV News  

According to an estimate by the International Monetary Fund, the real effective depreciation of Indian rupee is between six and seven per cent, in comparison to December last year. Broadly since the beginning of the year, Indian rupee “has lost about 11 per cent of its value in nominal terms vis a vis the US dollar", said IMF spokesperson Gerry Rice, responding to a question on the fall of the Indian currency in the last few months. “As a result, so far this year the real effective depreciation of the Indian rupees compared to December 2017 is, by our estimates, between six and seven percent,” Rice said. Referring to a recent report of the IMF on India, Rice said the Indian economy is recovering strongly from the two transitory disruptions in recent years - the Goods and Services Tax or GST and demonetisation process.

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History of this topic

Trump Tantrum: Impact of new US presidency on Indian Rupee likely to be short-lived, says SBI Report
23 hours, 50 minutes ago

Trump Tantrum: Impact of new US presidency on Indian Rupee likely to be short-lived, says SBI Report

Live Mint  

The “Trump Tantrum”, referring to the impact of Donald Trump's presidency on the Indian rupee, is likely to be a short-term phenomenon, says a report by State Bank of India. ‘Empirical Data Suggests Short-Term Impact’ It said “Empirical evidence suggest that Trump Tantrum for INR will be a short-term phenomenon, and rupee should adjust post the initial shock of early …

Rupee’s fall sparks a war of words between the ruling party, Opposition
1 day, 15 hours ago

Rupee’s fall sparks a war of words between the ruling party, Opposition

Live Mint  

The Indian rupee's depreciation beyond ₹86 against the US dollar on Monday sparked a war of words between the ruling Bharatiya Janata Party and the opposition Congress party over the currency's economic performance during their respective terms. Congress leader Jairam Ramesh took a dig at Prime Minister Narendra Modi on social media platform X over the currency's depreciation, questioning Modi's …

Rupee expected to weaken more in coming months
1 week, 5 days ago

Rupee expected to weaken more in coming months

Live Mint  

Mumbai: The rupee is expected to further weaken in the coming months as Trump’s presidency strengthens the dollar at least in the near-term, experts said, adding that the central bank's interventions in the currency market are likely to ease. “There is a pending depreciation pressure visible on the rupee and that is seen in the REER overvaluation of around 8%," …

Indian rupee hits fresh low amid US dollar rally and ongoing FPI selloff
1 month, 3 weeks ago

Indian rupee hits fresh low amid US dollar rally and ongoing FPI selloff

Live Mint  

The Indian rupee slipped to another fresh low of 84.50 against the US dollar in trade on November 22 as the greenback’s steady rise, persistent selling by foreign portfolio investors, and escalating geopolitical tensions continued to weigh heavily on the local currency. The dollar’s strength has been fueled by expectations that President-elect Donald Trump’s policies could reignite inflation and reduce …

‘Indian Rupee could face further depreciation…’: RBI’s new challenge of a strengthening US dollar — expert advice
1 month, 4 weeks ago

‘Indian Rupee could face further depreciation…’: RBI’s new challenge of a strengthening US dollar — expert advice

Live Mint  

Q2 results have nearly come to an end. The Nifty50’s PAT was forecasted to grow by 8.4% YoY, but the current actual growth is around 6.6%, with three company results to be released as on 13th Nov. Revenue growth was modest at 2.8% YoY, falling short of the 4.2% forecast and significantly lower than the 7.6% YoY growth observed in …

Rupee falls to all-time low against US dollar
2 months ago

Rupee falls to all-time low against US dollar

Deccan Chronicle  

Mumbai: The rupee slipped 2 paise to an all-time low of 84.40 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and strength of the American currency in the overseas market dented investors' sentiments. Forex traders said the rupee is expected to trade between 83.80 and 84.50 in the medium term with the Reserve Bank …

INR vs USD: Indian National Rupee hits record low of 84.38 against the US Dollar; Will it depreciate further?
2 months ago

INR vs USD: Indian National Rupee hits record low of 84.38 against the US Dollar; Will it depreciate further?

Live Mint  

The Indian rupee hit a record low on Monday against the US dollar, reflecting broader weakness among Asian currencies under pressure following Donald Trump’s victory in the U.S. elections. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.05% at 105.05, near the four-month peak achieved last week following Trump’s win. …

Rupee may depreciate 8-10 per cent during Trump 2.0, says SBI report
2 months ago

Rupee may depreciate 8-10 per cent during Trump 2.0, says SBI report

New Indian Express  

NEW DELHI: The rupee may depreciate 8-10 per cent against the US dollar during the Trump 2.0 regime, said a SBI research report, even as the local currency hit its all-time low on Monday. The report, titled US Presidential Election 2024: How Trump 2.0 Impacts India's and Global Economy, emphasised that the rupee can have a brief spell of depreciation …

Rupee falls 7 paise to 83.92 against U.S. dollar
4 months, 1 week ago

Rupee falls 7 paise to 83.92 against U.S. dollar

The Hindu  

The rupee declined 7 paise to close at 83.92 against the greenback on Monday on disappointing domestic macroeconomic data. “Indian rupee depreciated by 7 paise on Monday on positive U.S. Dollar and disappointing macroeconomic data,” said Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas. India’s manufacturing sector growth moderated in August as output and sales rose at slowest rates …

India’s GDP grew by 7.6 per cent during July-September quarter
1 year, 1 month ago

India’s GDP grew by 7.6 per cent during July-September quarter

Op India  

The Indian economy grew 7.6 per cent during the July-September quarter of the current financial year 2023-24, remaining the fastest-growing major economy. The Reserve Bank of India had maintained real GDP growth for 2023-24 at 6.5 per cent with Q2 at 6.5 per cent; Q3 at 6.0 per cent; and Q4 at 5.7 per cent. The International Monetary Fund had …

India set to grow by 5.9% this fiscal: IMF
1 year, 9 months ago

India set to grow by 5.9% this fiscal: IMF

The Hindu  

The International Monetary Fund has projected that India’s economy will grow by 5.9% for the current fiscal year April 2023 - March 2024, a downward revision of 0.2 percentage points since the January forecast. Gradual recovery “The global economy’s gradual recovery from both the pandemic and Russia’s invasion of Ukraine remains on track,” IMF Chief Economist Pierre-Olivier Gourinchas said, adding …

6.5% growth with sub-5% inflation key to $5 trillion economy: Govt paper
2 years ago

6.5% growth with sub-5% inflation key to $5 trillion economy: Govt paper

Hindustan Times  

An annual economic growth of 6.5% with inflation less than 5% for the next five years holds the key for the central government’s ambitious target of making India a $5 trillion economy, according to a background paper circulated among a select group of lawmakers. “India is likely to become a US$ 5 trillion economy by 2026-27 if it grows at …

Outlook 2023: Here’s why rupee will depreciate against dollar in H1
2 years ago

Outlook 2023: Here’s why rupee will depreciate against dollar in H1

Live Mint  

Indian rupee emerged as Asia’s worst performing currency in 2022 depreciating around 11.5% against the US Dollar on strength in the greenback and capital outflows by foreign investors. We expect Rupee to depreciate against the US Dollar in H1 2023 as the global inflation and economic concerns continue to dent risk sentiments. Most global institutions such as the IMF and …

Indian rupee ends 2022 as worst-performing Asian currency
2 years ago

Indian rupee ends 2022 as worst-performing Asian currency

Live Mint  

The Indian rupee ended 2022 as the worst-performing Asian currency with a fall of 11.3%, its biggest annual decline since 2013, as the dollar rocketed on the U.S. Federal Reserve's aggressive monetary policy stance to tame inflation. Heading into 2023, market participants believe the rupee would trade with an appreciation bias, finding relief from easing commodity prices and hopeful of …

Rupee Appreciated 3.2 Per Cent As Several Major Currencies Depreciated Shaktikanta Das
2 years, 1 month ago

Rupee Appreciated 3.2 Per Cent As Several Major Currencies Depreciated Shaktikanta Das

ABP News  

The rupee has appreciated by 3.2 per cent during April-October in real terms, even as several major currencies have depreciated, said Reserve Bank of India Governor Shaktikanta Das in his monetary policy address on Wednesday. Das said, “The appreciation of the US dollar this year, which precipitated large-scale depreciation of all major global currencies including the Indian rupee, has drawn …

Rupee falls 37 paise to 81.63 against US dollar in early trade
2 years, 1 month ago

Rupee falls 37 paise to 81.63 against US dollar in early trade

Firstpost  

At the interbank foreign exchange, the domestic unit opened at 81.62 against the dollar, then lost ground to quote at 81.63, registering a loss of 37 paise over its previous close Mumbai: The rupee depreciated 37 paise to 81.63 against the US dollar in early trade on Thursday, tracking the strength of the American currency in the overseas market and …

Currency pressure: The Hindu Editorial on the rupee’s depreciation against the dollar
2 years, 3 months ago

Currency pressure: The Hindu Editorial on the rupee’s depreciation against the dollar

The Hindu  

The rupee is yet again facing renewed pressure, along with major peers, as the dollar continues to strengthen in the wake of the Federal Reserve’s latest jumbo 75 basis points interest rate increase and the U.S. central bank’s unequivocal message that it remains squarely focused on taming inflation. The Indian currency weakened past the 81-mark against the dollar for the …

Currency caution: The Hindu Editorial on the Indian rupee’s depreciation
2 years, 5 months ago

Currency caution: The Hindu Editorial on the Indian rupee’s depreciation

The Hindu  

The Indian rupee is experiencing its worst slump in four years. While the Indian currency is not alone in faring poorly against the greenback, with even the historically strong euro and the British pound taking a hammering and weakening by more than the rupee has, the fact that other currencies too have appreciably lost value against the dollar can only …

Costlier Oil Prices, Tight Financial Conditions, FPI Outflows Responsible For Rupee Fall: Sitharaman
2 years, 5 months ago

Costlier Oil Prices, Tight Financial Conditions, FPI Outflows Responsible For Rupee Fall: Sitharaman

News 18  

Finance Minister Nirmala Sitharaman on Monday said global factors, such as a surge in crude oil prices and tight financial conditions, along with foreign portfolio investment outflows, are responsible for the fall in the exchange rate of the Indian rupee against the US dollar. “Global factors such as the Russia-Ukraine conflict, soaring crude oil prices and tightening of global financial …

Rupee's historic plunge: How is it impacting people | Explained
2 years, 6 months ago

Rupee's historic plunge: How is it impacting people | Explained

India TV News  

Rupee's historic plunge: The Indian rupee nearing 80 to a US dollar will make imports of items from crude oil to electronic goods, overseas education and foreign travel costlier while raising fears that the inflation situation could worsen. As per the latest data, the country's imports expanded by 57.55 per cent to USD 66.31 billion in June compared to the …

Why the fall of the rupee should have us all worried
2 years, 6 months ago

Why the fall of the rupee should have us all worried

The Hindu  

Published : Jul 10, 2022 18:00 IST ALL is not quiet on India’s external economic front. In fact, in a recent interview to Business Standard, Duvvuri Subbarao, a former RBI Governor, pointed out that “even as the rupee has depreciated vis-à-vis the dollar, it has actually strengthened against other hard currencies such as the euro and the yen” and that …

India's economic growth 'much weaker' than expected due to corporate, environmental regulatory uncertainty, says IMF
5 years, 4 months ago

India's economic growth 'much weaker' than expected due to corporate, environmental regulatory uncertainty, says IMF

Firstpost  

The IMF cut its projection for India’s economic growth by 0.3 percentage points to 7 percent for the fiscal year 2019-20 owing to the “weaker-than-expected outlook Washington: International Monetary Fund or IMF on Thursday said that India’s economic growth is “much weaker” than expected due to corporate and environmental regulatory uncertainty and “lingering weakness” in some non-bank financial companies. “Again, …

Rupee falls 17 paise against dollar in early trade amid weak domestic equity market, foreign fund outflows
5 years, 4 months ago

Rupee falls 17 paise against dollar in early trade amid weak domestic equity market, foreign fund outflows

Firstpost  

At the interbank foreign exchange, the rupee opened weak at 71.96 and fell further to 72.05 against the US dollar. Mumbai: The rupee depreciated by 17 paise to 71.95 against the US dollar in early trade on Thursday, tracking weak domestic equity market and persistent foreign fund outflows. However, a weak dollar against other major currencies overseas and softening crude …

IMF scales down India's GDP growth rate by 0.3% each in 2019, 2020
5 years, 5 months ago

IMF scales down India's GDP growth rate by 0.3% each in 2019, 2020

India TV News  

The IMF on Tuesday projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, saying its GDP will now grow respectively at the rate of 7 and 7.2 per cent reflecting a weaker-than-expected outlook for domestic demand. With policy stimulus expected to support activity in the face of …

Opinion | The $5 trillion-economy goal is a dangerous distraction for India
5 years, 6 months ago

Opinion | The $5 trillion-economy goal is a dangerous distraction for India

Live Mint  

On Saturday, 15 June, Prime Minister Narendra Modi declared: “ goal to make India a $5 trillion economy by 2024 is challenging, but achievable, with the concerted efforts of states.” This goal has solid support from the International Monetary Fund. To convert per capita real rupee GDP growth into nominal dollar aggregate GDP growth, we must add an adjustment for …

IMF downgrades India's GDP growth projection to 6.1 per cent in 2019
5 years, 7 months ago

IMF downgrades India's GDP growth projection to 6.1 per cent in 2019

India TV News  

India's GDP growth projection has been downgraded to 6.1 per cent in 2019, the International Monetary Fund said on Tuesday. Three months later, however, the IMF projected a slower growth rate for India in 2019, a downward revision of 0.3 per cent. As against India's real growth rate of 6.8 per cent in 2018, the IMF in its latest World …

Rupee likely to depreciate further to 78 per dollar in 2019 on widening fiscal and current account deficits: Report
5 years, 11 months ago

Rupee likely to depreciate further to 78 per dollar in 2019 on widening fiscal and current account deficits: Report

Firstpost  

According to Karvy, this is expected to be a “mixed year” for the commodities and currencies market and the rupee may depreciate further New Delhi: The rupee may depreciate to 78 per US dollar this year, largely owing to widening fiscal and current account deficits, which are the biggest pain points for the domestic currency. According to Karvy’s Annual Commodity …

Rupee falls further against US dollar
6 years, 1 month ago

Rupee falls further against US dollar

Live Mint  

Mumbai: The Indian rupee extended its losses on Wednesday against the US dollar after ruling Bhartiya Janata Party suffered a setback in the three state elections, and also after the government announced a former bureaucrat as a central bank chief. Analyst expects that the markets focus will shift now towards assessing continued central bank independence after two governers in a …

Rupee at 74 to a dollar is still better than its peers, says Urjit Patel
6 years, 3 months ago

Rupee at 74 to a dollar is still better than its peers, says Urjit Patel

The Hindu  

On the day the rupee breached the 74-mark against the US dollar for the first time, RBI governor Urjit Patel on Friday reiterated that the domestic currency is still better than its emerging market peers and that the apex bank does not have a target for it. Admitting that the country has not been immune to global spillovers from external …

Indian rupee crisis: ‘Worst is not yet over’
6 years, 4 months ago

Indian rupee crisis: ‘Worst is not yet over’

Al Jazeera  

Analysts partly attribute the fall of rupee to a global crisis and Trump’s ‘declaration of a trade war’. A strong US dollar and high oil prices, coupled with investors dumping emerging markets’ currencies and a record high current account deficit – a measurement of a country’s trade where the value of its imports exceeds the value of its exports – …

Rupee continues to depreciate, hits fresh record low of 72.69 versus US dollar
6 years, 4 months ago

Rupee continues to depreciate, hits fresh record low of 72.69 versus US dollar

India TV News  

Indian rupee touched a fresh record low of 72.69 per US dollar on Tuesday. On Monday, it ended at record closing low of 72.45 per dollar, down by 72 paise against Friday's close of 71.73. It touched a record low of 72.67 per dollar during intraday Monday. Meanwhile, market benchmark BSE Sensex crashed 509 points to close at more than …

Fall in rupee caused by global factors, Indian currency better off than others, says Arun Jaitley
6 years, 4 months ago

Fall in rupee caused by global factors, Indian currency better off than others, says Arun Jaitley

Firstpost  

The rupee fell for the sixth straight session on Wednesday, closing at a low of 71.75 against the US dollar, but Arun Jaitley said the currency is better off than others. New Delhi: Finance Minister Arun Jaitley on Wednesday attributed the fall in rupee to global factors and stressed that the domestic unit was better off as compared to other …

10 things the IMF numbers tell us about the Indian economy
6 years, 5 months ago

10 things the IMF numbers tell us about the Indian economy

Live Mint  

Mumbai: The International Monetary Fund has released the results of its annual assessment of the Indian economy, with predictions for 2018-19 and 2019-20. Here’s what the IMF numbers tell us: There’s no change in the forecast for India GDP growth—it remains 7.3% for the current fiscal year and 7.5% for 2019-20. This imbalance between domestic savings and investment will result …

Rupee expected to remain at 68-72 against US dollar in next 2-4 months, says UBS report
6 years, 6 months ago

Rupee expected to remain at 68-72 against US dollar in next 2-4 months, says UBS report

Firstpost  

The rupee is expected to strengthen, and by the end of this financial year rupee is likely to be near 66, and by end-2019-20 at around 66.5. New Delhi: The rupee is expected to be around 68-72 against the USD in the next 2-4 months, and the depreciation bias in the domestic currency is likely to continue, says a UBS …

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