• posted by IMV |
  • 12/1/2018

Currency Report 12th January 2018Indian rupee pared most of its early losses but still ended marginally weaker against the American currency on Thursday, due to fresh dollar demand from banks and importers. Sentiments remained down-beat with rating agency Care Ratings’ latest report that uptrend in crude oil price is likely to have a major impact on India's fiscal position. It further noted that higher prices of crude oil will increase the trade...

  • posted by IMV |
  • 11/1/2018

Currency Report 11th January 2018Halting a two-day slide, Indian rupee ended stronger against dollar on Wednesday, due to increased selling of the American currency by exporters and banks. Traders took support with the World Bank report projecting India’s growth rate to 7.3% in 2018 and 7.5% for the next two years. It said that with an ambitious government undertaking comprehensive reforms, India has enormous growth potential compared to other...

  • posted by IMV |
  • 10/1/2018

Currency Report 09th January 2018Falling for the second consecutive session, Indian rupee depreciated against dollar on Tuesday, on increased demand for the US currency from importers. Sentiments remained down-beat with rating agency Crisil attributing the continuing slowdown to the impacts of the demonetization, GST implementation and weakness in agriculture, though it has maintained its FY19 growth estimate at 7.6 per cent on the low base. Some...

  • posted by IMV |
  • 09/1/2018

Currency Report 09th January 2018Indian rupee ended weaker against dollar on Monday, on account of sustained demand for dollar from banks and importers. Sentiments remained dampened with the CSO’s first advance estimates of Gross Domestic Product (GDP) growth for current financial year which highlighted that the Indian economy is expected to grow at a slower 6.5% in 2017-18 compared to the 7.1% in 2016-17. According to CSO, the GDP at constant...

  • posted by IMV |
  • 08/1/2018

Currency Report 8th January 2018Indian rupee pared some of early gains to end marginally higher against dollar on Friday, due to some dollar demand from importers and corporates. Sentiments were positive with credit rating agency Fitch ratings in its latest report expressed optimism about India’s medium-term economic prospects and said it would outstrip China’s growth. Besides, good gains in domestic equity markets too supported the domestic...

  • posted by IMV |
  • 05/1/2018

Currency Report 5th January 2018Indian rupee ended higher against the dollar on Thursday, with the American currency coming under heavy selling by banks and exporters. Sentiment got up-beat with the survey report showing that activity in India's services industry bounced back to modest growth in December after contracting in the previous month, as new business orders stabilised and price increases slowed. The Nikkei/IHS Markit Services Purchasing...

  • posted by IMV |
  • 04/1/2018

Currency Report  4th January 2018Snapping its four-day winning streak, Indian rupee ended marginally weaker against dollar on Wednesday, due to demand for greenback by banks and importers. Investors remained sidelines ahead of services PMI data which is scheduled to be release on January 04, 2017. However, losses were limited as some support came with a private report stating that India’s growth rate is expected to accelerate over the coming...

  • posted by IMV |
  • 03/1/2018

Currency Report  3rd January 2018Indian rupee continued its strong recovery momentum for the fourth consecutive day and ended at a fresh five-month high on Tuesday, on sustained selling of the American currency by exporters and banks. Sentiments got up-beat with report that the eight core industries growing by 6.8% in November 2017, compared to the production during November 2016. The growth in November was driven by a 16.6% increase in...

  • posted by IMV |
  • 02/1/2018

Currency Report  2nd January 2018Indian rupee continued its upward march for the third straight session on Monday, on persistent selling of the American currency by exporters. Investors even overlooked report that India’s fiscal deficit breached FY18 target at Nov-end by standing at 112% of Budget Estimates. The country’s fiscal deficit, the difference between government expenditure and revenue, stood at Rs 6.12 lakh crore for the period...

  • posted by IMV |
  • 01/1/2018

Currency Report  1st January 2018Extending its previous session’s gains, Indian rupee concluded last trading session of Calendar Year (CY) 2017 on an upbeat note on Friday, as exporters and banks intensified selling of the US currency. Rupee throughout the day remained positive, taking support with a private report that consumer confidence in India is likely to remain high over the next six months with a very optimistic outlook. Some comfort...