• posted by IMV |
  • 13/12/2017

Currency Report 13th December 2017Indian rupee pared some of its early losses but still ended marginally weaker against the American currency on Tuesday, due to fresh dollar demand from banks and importers. Investors even overlooked the UN DESA's World Economic Situation and Prospects 2018 report, which said that despite a slowdown observed in early 2017, the outlook for India remains positive, underpinned by strong private consumption, robust...

  • posted by IMV |
  • 12/12/2017

Currency Report 12th December 2017Rising for the second straight day, Indian rupee ended marginally higher against dollar on Monday, owing to dollar sale by exporters and banks. Traders took support with CII’s Business Confidence Index climbing to 59.7 during October-December 2017, against 58.3 in the previous quarter, as reform measures such as the Goods and Services Tax instilled optimism in India Inc. Some optimism also came with data showing...

  • posted by IMV |
  • 11/12/2017

Currency Report 11th December 2017Indian rupee snapped three-day declining trend and bounced back against the Greenback on Friday, on the back of fresh dollar selling by exporters and some banks. Sentiments remained optimistic with the private report stating that the Indian economy is expected to witness cyclical growth recovery, with real GDP growth likely to accelerate from 6.4 percent this year to 7.5 percent in 2018 and further to 7.7 percent...

  • posted by IMV |
  • 08/12/2017

Currency Report 08th December 2017Indian rupee ended marginally lower against US dollar on Thursday, taking its losing streak for third straight session, hurt by good demand for the greenback from importers. Traders failed to get support with former RBI Governor YV Reddy’s statement that amid uncertainties in the global economic order, a sense of optimism about the future is more in India than in other parts of the world. Separately, a foreign...

  • posted by IMV |
  • 07/12/2017

Currency Report 07th December 2017Falling for the second consecutive session, Indian rupee depreciated against dollar on Wednesday, on increased demand for the US currency from importers. The domestic currency came under pressure as the RBI left key policy repo rate unchanged at 6%. Likewise, it has left the reverse repo rate at 5.75%, while the cash reserve ratio too has been left unchanged at 4%. Some concern also came with report that India's...

  • posted by IMV |
  • 06/12/2017

Currency Report 06th December 2017In line with equity market, the Indian rupee ended marginally lower against US dollar on Tuesday, due to fresh demand for the American currency from banks and importers. Traders’ attention turned towards the outcome of two-day policy review by the Reserve Bank of India (RBI) beginning today. Sentiments remained dampened after global rating agency Fitch Ratings pared India’s growth forecast for this financial year...

  • posted by IMV |
  • 05/12/2017

Dollar turned lower, as investors waited for U.S tax reform legislation's next stepThe dollar turned lower, as investors waited to see how the next step of the U.S. tax reform legislation proceeds rather than extend the rise made by the dollar at the start of the week following the U.S. Senate’s approval of the tax bill. The Senate must now reconcile its version of the bill with legislation passed by the House of Representatives. The House...

  • posted by IMV |
  • 05/12/2017

Currency Report 05th November 2017Indian rupee appreciated against US dollar on Monday, as fresh sale of the US currency by exporters paced up. Local currency got some support with Niti Aayog Vice-Chairman Rajiv Kumar’s statement that the growth rebound shows that the economy has come out of the woods and economic expansion for the full year will come in at 6.5-7 percent. Besides, gains in the rupee were also due to local equity markets which...

  • posted by IMV |
  • 30/11/2017

Currency Report 30th November 2017Indian rupee pared some of early gains to end marginally stronger against dollar on Wednesday, due to some dollar demand from importers and corporates. Traders were taking support from Prime Minister Narendra Modi’s statement who called upon entrepreneurs from across the globe to make India their base for the world. He said that India has emerged as one of the fastest-growing economies and a happening place with...

  • posted by IMV |
  • 29/11/2017

Currency Report 29th November 2017Rising for the second straight day, Indian rupee ended marginally stronger against dollar, owing to dollar sale by exporters and banks. Traders took some support with FICCI’s latest Survey that India's GDP growth rate is expected to rise to 6.2 percent in the second quarter of the current fiscal as the adverse impact of demonetisation and GST appears to be bottoming out. Besides, a private report stating that the...