Diabytes
USD News
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The rupee likely inched up higher on optimism that the Russia-Ukraine war will end following the upcoming US-Russia negotiations on August 15, leading to removal of additional tariffs on India.
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The report is of the view that India’s domestic political stability will push up the growth rate despite the turbulent global economic environment.
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If you are travelling abroad and wondering how much foreign currency you can carry in cash from India, here are some important points you must know
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The local unit clocked the highest single-day rise since April 2023 when it appreciated by 42 paise.
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The merchandise trade deficit at USD 71.6 billion was marginally higher than USD 71.3 billion during the third quarter of 2022-23.
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India's forex reserves increased by USD 6.396 billion to USD 642.492 billion for the week ended March 15, the Reserve Bank said.
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The company's IT Services segment revenue dropped 4.5 percent on a year-over-year basis to Rs 22,150.8 crore during the reported quarter from Rs 23,196 crore during the same period of 2022.
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However, the local currency retreated from early highs amid volatile stock markets and touched a low of 82.05 in afternoon trade at the interbank foreign exchange market.
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PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end of May.
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Investors are keenly awaiting the interest rate decision by the US Federal Reserve due on Wednesday.
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The rupee gained 7 paise to close at 82.80 against the US dollar.
Traders said the domestic unit witnessed high volatility during the session.
At the interbank foreign exchange market, the local unit opened at 82.84.
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The rupee appreciated 30 paise to close at 81.63 against the US dollar.
On Wednesday, the rupee depreciated 26 paise to close at 81.93 against the USD.
The dollar index slipped 0.19 percent to 105.87.
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Speaking at the India Credit Spotlight 2022 webinar, S&P Sovereign & International Public Finance Ratings Director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive.
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She was responding to a question on the movement of rupee against the dollar.
The rupee breached the psychologically significant level of 79 per dollar level for the first time ever on Wednesday.
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The domestic unit has lost 1.97 per cent so far this month.
Meanwhile, the dollar index was trading 0.13 per cent higher at 104.64.
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The dollar index strengthened by 0.05 per cent to 104.48.
Brent crude futures, the global oil benchmark, dropped 4.46 per cent to USD 109.54 per barrel.
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Andhra Pradesh Cheif Minister blames NDA government's inefficiency as the cause of price hike.
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The overall forex reserves inched down to USD 400.85 billion from USD 400.88 billion reported for the week ended August 10, according to the RBI.
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The case was first announced in February in conjunction with an enforcement sweep launched by the US Department of Justice aimed at stopping illegal schemes that exploit older Americans
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Yesterday, the rupee had ended lower by 3 paise at 63.87 against the US currency.
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