Finance News

Rupee within touching distance of 82/$1 as Fed talks up rate hikes The rupee came perilously close to breaching the 82 per dollar mark on Wednesday as comments by various officials of the Federal Reserve suggested that the US central bank’s policy tightening cycle had a long way to go yet. The rupee closed at a new ...

RBI’s rate setting panel starts deliberations; decision on Friday The Reserve Bank’s rate-setting panel on Wednesday started deliberations on the keenly awaited monetary policy amidst expectation of 50 basis points hike in interest rate to check inflation and improve foreign capital inflow to arrest declining value of rupee against the US dollar. The decision of RBI Governor ...

Share of industrial loans in bank credit on decline, personal loans up: RBI The share of industrial loans in total credit has been gradually declining over the last decade while that of personal loans is on the rise, the Reserve Bank said on Wednesday. Both industrial and personal loans had nearly 27 per cent credit share each ...

Rupee trade: Two Russian banks get RBI nod for special vostro account The Reserve Bank of India (RBI) has given its approval to two Russian banks for opening special Vostro account for rupee trade. Sberbank, JSC VTB — the largest and second largest bank of Russia — are the first foreign lenders to receive this approval after the central ...

Rupee posts another new low against US dollar, but fares better than peers The Indian rupee hit a new low against the dollar on Wednesday, though the fall was less than at its Asian peers’, as the relentless surge in Treasury yields and the dollar index showed no signs of letting up. The rupee closed at 81.94 ...

India FX reserves set to shrink further, stir memories of 2008 crisis: Poll India’s depleted foreign exchange reserves are likely to drop further, falling to their lowest level in over two years by end-2022, as the Reserve Bank of India continues to defend the rupee from the mighty dollar’s rise, a Reuters poll found. In a battle ...

Rupee depreciates 40 paise to all-time low of 81.93 against US dollar The rupee depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on Wednesday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and ...

RBI policy: Here is how a repo rate hike can affect your finances Reserve Bank of India (RBI), India’s central bank is likely to hike repo rates again to quell inflation. The repo rate is the interest rate at which the RBI lends short-term funds to banks. After a small jump in May of 40 basis points (1 basis ...

Rupee hits new low, inches towards 82 per dollar on hawkish US Fed The rupee weakened sharply against the US dollar to hit a fresh low as comments by members of the US Federal Reserve strengthened the anticipation of the American central bank continuing to hike rates at a rapid pace. The expectation of a longer US ...

Hawkish Fed may prompt Reserve Bank to deliver a 50-basis-point hike Interest rate hikes in the United States and the resultant pressure on the rupee is likely to give the Reserve Bank of India (RBI) reason to deliver a 50-basis-point rate hike on Friday even as it tries to protect a recovery in growth. The RBI’s monetary ...