Weak Rupee

A weak currency does not necessarily mean a weaker economy. In fact, a weak rupee supported by good quality products, can actually boost exports despite global slowdown and attract investments into India 

Mercedes expects double-digit growth in India in 2023 despite weak rupee

The German luxury carmaker's sales in India rose 41% last year to 15,822 cars, its highest ever in the country, and it has an order backlog of around 6,000 vehicles, Santosh Iyer, managing director for Mercedes-Benz India, told Reuters.

Amid rupee fall, RBI’s forex reserves post biggest weekly drop in three months

Foreign exchange reserves stood at $588.31 billion last week, down $5 billion from $593.32 billion in the prior week, according to central bank data. The drop was the biggest since the week ended April 1, when reserves fell by $11.17 billion

Controlling inflation, reducing volatility key to stabilising rupee, economists say

After reaching a record low of 77.14 to the dollar on March 7, the rupee has since gained to 76.25 as of March 16. This still represents a fall of 2.28 percent since the beginning of the year, when it was 74.51.

Opinion | Why are Indians splurging on foreign trips when the dollar is getting costlier?

If the rupee’s slide persists, is it going to be a throwback to 2013, with a fresh set of controls on individual foreign spending under the RBI’s liberalised remittance scheme?

See FY14 GDP growth 5.3%; high inflation a worry: PMEAC

C Rangarajan, Chairman of Prime Minister‘s Economic Advisory Council (PMEAC) said current account deficit (CAD) for this fiscal is likely to be USD 55 billion.

Eyeing market share gain with new Discover: Rajiv Bajaj

Bajaj Auto lost 2 percent market share in the two-wheeler segment during the quarter, and is hoping to recoup it through the new variant of the Discover model. Rajiv Bajaj is expecting strong festive season sales to boost the company‘s bottomline, as festive sales typically increase 70-100 percent every year.

CIMB cautious on India due to QE taper concerns, weak rupee

CIMB is cautious on Indian markets going forward. It feels that the eventual taper of the monthly asset purchase programme by the US Federal Reserve will have a negative impact on India.

Foreign banks to give upfront loans for NRI dollar deposits

In an attempt to resurrect the practice of drawing dollars from NRIs, foreign banks will provide upfront financing for wealthy NRIs and attract them to place bulky dollar deposits.

Earnings will go up, but operational costs too: MindTree

In an interview to CNBC-TV18, Rostow Ravanan, Co-Founder & CFO, Mindtree spoke about the impact of rupee depreciation on its IT business.

Baptism of fire for India's new central bank chief

Succeeding D Subbarao as the RBI Governor, Raghuram Rajan's immediate challenge will lie in restoring confidence in the rupee, which has been subject to consistent freefall.

Surging input costs, weak rupee to stress margins: JK Paper

In an interview to CNBC-TV18, AS Mehta, President, JK Paper speaks about the five percent price hike in its products on the back of increasing input costs. However, there may be a case for a further hike soon, if the rupee-dollar parity sees more fall, he says.

Rupee plunges to historic low of 64.45 vs dollar

Continuing its downslide, the Indian rupee tumbled to an all-time low of 64.45 against the dollar in late afternoon trade today.The slide was triggered by sustained dollar demand from banks and importers.

S&P maintains negative outlook on India's rating

Amid rupee sliding below 64 to a dollar, global agency Standard & Poor's today said it will maintain negative outlook for the country as currency depreciation is adversely impacting investor confidence.

Limp QE may revive EMs, rupee in 9 months: Credit Suisse

Robert Parker of Credit Suisse AMC believes that this (tapering) process will be slow and the US central bank will still be buying bonds of USD 60 million after the tapering process.

Rupee breaches 63/$; down 148p in decade's biggest drop

The rupee today breached the 63-level for the first time against the US currency in late evening trade at the Interbank Foreign Exchange market on higher demand for dollar, particularly from oil importers.

Distant bright spot for India's battered rupee?

The battered rupee hit another record low of 62.76 to the dollar on Monday, and although most analysts see further weakness in the coming months, they say the currency's woes are set to ease.

Strong dollar, FII sell-off to up rupee strain: HDFC Bank

Forex market analysts believe that the currency may weaken more on the back of strong dollar demand. Employment data from the US has also been strong, which has led to this move, says Ashutosh Raina, head of FX trading at HDFC Bank.

ONGC's Q1 net down 34% on higher cost, write-offs

State-run ONGC has reported 34 percent Y-o-Y slump in June quarter profit to Rs 4016 crore on higher costs

JSW Energy's Q1 net zooms multi-fold on lower fuel cost

JSW managed to post Rs 214 crore profit in Q! despite having a forex loss of Rs 187 crore.

Sovereign downgrade risk still on table for India: DBS

DBS notes the country's forex reserves continue to contract. The total foreign exchange reserves as a percentage of total external debt, now stands at 74.8 percent versus 85.2 last year.

Reliance Industries Q1 net up 19% on GRM surge

Reliance Industries has posted a 19 percent year-on-year rise in June quarter profit to Rs 5352 crore. Sales have however declined to Rs 87645 crore, down 4.5 percent YoY.

IIP data weaker than expected; growth to be around 6%: ICRA

Senior economist at ICRA, Aditi Nayar told CNBC-TV18 that the IIP numbers were weaker than expected. She does not see a rate cut from the RBI happening in the near future.

Shree Renuka to start sugar exports from Haldia unit

Strong demand during Ramadan and limited supplies in Asia amid a weak rupee has made exports lucrative. Hence the company will soon commence exports from its Haldia refinery. Currently, the company exprts from its Kandla refinery on the west coast

India Ratings retains stable outlook on Indian economy

Things are consistent or broadly in line with the ratings levels, but if there is a wide movement on any side, be it on the positive side or on the negative side, the sovereign group will have a relook at it, says India Ratings' Devendra Pant