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The aviation industry is expected to report a net loss of Rs 20-30 billion in FY2025 and FY2026 each as nearly half of airline expenses, including aircraft leases and maintenance, are dollar-denominated, leaving carriers prone to currency fluctuations
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The rupee had depreciated 0.95 percent in the 10 months till November 5 and fell a further 0.73 percent within a month of Donald Trump’s election.
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However, economists note that even if the rupee is overvalued the RBI may not orchestrate a steep depreciation.
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The domestic currency's depreciation has been less than what has been seen for competing currencies like the Vietnamese dong and Indonesian rupiah, tempering the country's competitiveness in overseas markets.
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After the Modi government came to power in 2014, the rate of depreciation has come down to about 1.5 per cent.
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Inflation has been a challenge for packaged consumer goods makers since the onset of the COVID-19 pandemic. The rupee’s fall against the dollar is set to worsen their struggle.
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The partially convertible rupee has so far depreciated more than 7% against the U.S. dollar, but Das said the depreciation was less than in other currencies.
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The rupee opened at 78.51 per dollar and rose to 78.87 level, an all-time high, on June 28.
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Banks, especially public sector lenders, that have actively raised money from offshore markets will find it costlier to service debt due to the currency’s depreciation.
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You must buy additional consumables and nil depreciation covers
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Following the 2013 episode, which was far more disruptive from a macroeconomic stability perspective, Indian policymakers initiated a number of steps to safeguard the economy.
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Most emerging markets (EMs) are now better buffered against global risks from the unwinding quantitative easing (QE) regimes, rising oil prices and trade wars.
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Watch accompanying video of CNBC-TV18's Reema Tendulkar analysing the IT stocks and the impact of rupee depreciation on the sector.
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Surendra Goyal said that this depreciation in rupee will spook foreign institutional investors (FIIs).
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Outgoing Reserve Bank of India Governor Raghuram Rajan attacked critics of his monetary policy stance, saying the interest rates the central bank had set during his tenure were not too high.
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Amtek Auto has shortlisted bidders for its Neumayer Tekfor subsidary and hopes to close the deal in four to six weeks, says Vice Chairman & MD John Flintham.
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In an interview with CNBC-TV18, CMD Makrand Appalwar explained what the recognition means for the company going forward.
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Moody's Investors Service said that the Indian IT sector will maintain global market share gains, supported by a wider coverage and operating efficiency, albeit at a moderate pace.
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Experts on CNBC-TV18 say that rupee depreciation helped margin growth for the IT bellwether. But watch out for recession in IT sector in another two-three quarters which might hit the company.
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Total income from operations during the third quarter of the current fiscal declined to Rs 987.04 crore as against Rs 1,052.35 crore in the year-ago period, the largest domestic shipliner said in a regulatory filing to the BSE
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Hit by global growth concerns, the rupee today crashed below the 68-level after 28 months and closed 23 paise down at 67.95 on fresh demand for the American currency from importers amid a massive fall in domestic stock markets.
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Mitul Kotecha, Head-FX Strategy, Asia Pacific, Barclays expects the rupee to depreciate to Rs 68.50/USD by this quarter-end and adds that it will depreciate further to Rs 70 per dollar in the medium-term.
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The tumultuous run witnessed in global markets recently threatens to continue till China's yuan currency (also called the renminbi) stabilises, says Ian Hui of JPMorgan Asset Management.
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A Dow Jones report Tuesday noted that the move followed a PBOC decision Monday to not renew a credit line of the same amount to policy bank China Development Bank, a move which may have spurred investor worries that the central bank might tighten policy.
