India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Mumbai: India's forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday.The overall reserves had jumped by $6.992 billion to $692.721 billion in the previous reporting week. The forex reserves had touched an all-time high of $704.885 billion in end-September 2024. Earlier in the day, RBI Governor Sanjay Malhotra said that at $691.5 billion, the reserves are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding. For the week ended May 30, foreign currency assets, a major component of the reserves, decreased by $1.952 million to $584.215 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said.
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
Mumbai, Jun 5 (PTI) The rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the US dollar on Thursday, supported by positive domestic equities and a rise in Asian currencies. Forex traders said overnight softening of crude oil prices favoured the rupee. However, a strong US dollar index capped sharp gains. Besides, market participants are now keenly awaiting the outcome of the Reserve Bank of India's (RBI's) monetary policy meeting for further cues, they said. At the interbank foreign exchange, the domestic unit witnessed a volatile trading session -- it opene ...Read More >
Friday, 6 June 2025 () India's foreign exchange reserves decreased by $1.24 billion to $691.49 billion in the week ending May 30, according to RBI data. Despite this dip, the central bank assures that the reserve buffer remains strong, covering 11 months of imports and a significant portion of external debt. Foreign currency assets fell, while gold holdings increased, nearly doubling their share since 2021. ...Read More >
Mumbai, Jul 3 (PTI) The rupee depreciated 8 paise to 85.70 against the US dollar in early trade on Thursday amid renewed headwinds from global risk sentiment and persistent foreign fund outflows. Forex traders said the rupee was trading in a narrow range largely due to RBI's cautious strategy as any dip in USD-INR is likely to be met with dollar buying by the RBI, not only to manage maturities but also to rebuild its intervention cushion. This persistent demand for dollars by the central bank is limiting the gains for the rupee, they said. At the interbank foreign exchange, the domestic uni ...Read More >
India's Latest Forex Reserves: India's foreign exchange reserves rose sharply by $4.84 billion to $702.78 billion in the week ended June 27, bringing them within striking distance of the all-time-high level of $704.89 billion recorded in end-September 2024, according to the latest data released by the Reserve Bank of India (RBI). This marks a strong rebound from late January levels, when reserves had fallen to a multi-month low of around $624 billion. The gain was led by an increase in foreign currency assets, while gold reserves declined. The value of gold reserves fell $1.23 billion to $84 ...Read More >
Mumbai, Jul 1 (PTI) The high-value Rs 2000 notes worth Rs 6,099 crore are still in circulation even after two years of the Reserve Bank withdrawing the currency, according to official data released on Tuesday. Rs 2000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation. In a statement, the RBI said the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has d ...Read More >
Amritsar: BJP MP Nishikant Dubey from Jharkhand has claimed that Britain assisted India in executing the 1984 Operation Bluestar at the Golden Temple in Amritsar, stoking a new controversy.In a post on X on Monday, Dubey alleged that then PM Indira Gandhi "launched an attack on the Golden Temple in collaboration with Britain", with British Army officers present in Amritsar.He uploaded a classified British document, "Sikh Community", claiming that on Feb 23, 1984, the UK Foreign and Commonwealth Office mentioned in a letter that the Indian govt had sought British advice over a plan to remove Si ...Read More >
New Delhi, July 11 (SocialNews.XYZ) The country's gold reserves grew by $342 million during the week, reaching $84.846 billion, according to the latest weekly data released by Reserve Bank of India (RBI) on Friday. Along with gold, Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) increased by $39 million to $18.868 billion. Additionally, India's reserve position with the IMF also rose by $107 million to $4.735 billion, the data showed. This uptick in reserves comes at a time when both domestic and global bullion markets are witnessing a sharp rally. India's forex re ...Read More >
Prime Minister Narendra Modi's visit to the Maldives last week, after an invitation by Maldives President Mohamed Muizzu to be a special guest for the country's 60th Independence Day, signalled the full return of relations to the closeness they held during the previous Ibrahim Solih government. Although the two leaders had not gotten off to the best start in 2023, after Mr. Muizzu's surprise win, backed by an "India Out" campaign -- this was followed by a "Boycott Maldives" social media campaign ...Read More >
Mumbai, Jun 27 (PTI) India's forex reserves dropped by USD 1.01 billion to USD 697.93 billion for the week ended June 20, the Reserve Bank of India said on Friday. In the previous reporting week, the reserves had jumped by USD 2.29 billion to USD 698.95 billion. Forex reserves had touched an all-time high of USD 704.885 billion in September 2024. Also Read | Ahmedabad Plane Crash Probe: Parliamentary Committee To Grill Boeing and Air India Executives, DGCA Officials; Sources Say 'Multiple Shortcomings' Matter of Concern. For the week ended June 20, foreign currency assets, a major component ...Read More >
Mumbai, Jun 27 (PTI) India's external debt increased by 10 per cent to USD 736.3 billion at the end of March 2025 compared to USD 668.8 billion in the year-ago period, the Reserve Bank said on Friday. As a percentage of the GDP, the external debt increased to 19.1 per cent at the end of the recently concluded financial year from 18.5 per cent a year ago, it added. In a year which saw some volatilities in the currency markets, the RBI said the "valuation effect" due to the appreciation of the US dollar against the rupee and other currencies amounted to USD 5.3 billion, while if one were to ex ...Read More >
Mumbai (Maharashtra) [India], July 20 (ANI): India's foreign exchange reserves fell by USD 3.06 billion to USD 696.67 billion for the week ending July 11, marking the second straight week of decline, according to the official data released by the Reserve Bank of India (RBI). In the previous reporting week of July 4, the country's forex reserves witnessed a slip of USD 3.049 billion to USD 699.736 billion. Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for July 20, 2025 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game. In the week ending July 11, ...Read More >
NEW DELHI, June 6 (Xinhua) -- India's foreign exchange reserves declined by 1.24 billion U.S. dollars to 691.49 billion dollars during the week ended May 30, showed the weekly data released by the country's central bank, the Reserve Bank of India (RBI), on Friday. In the preceding week, the country's forex reserves had increased by nearly 7 billion U.S. dollars. According to RBI Governor Sanjay Malhotra, the forex reserves were robust and sufficient to cover more than 11 months of goods imports and about 96 percent of the country's outstanding external debt. The central bank's weekly bullet ...Read More >
Policy 2 min read Cryptocurrencies hamper financial stability: RBI RBI Governor Sanjay Malhotra expressed concerns about cryptocurrencies, citing potential risks to financial stability and monetary policy. While the Supreme Court urged the Centre to formulate clear regulations, India is currently developing a discussion paper on cryptocurrencies, with an inter-ministerial group examining global norms. Mumbai, RBI Governor Sanjay Malhotra on Friday said the central bank is concerned about cryptoc ...Read More >
Mumbai: The rupee rose 22 paise to close at 85.50 against the greenback on Friday on the back of sustained inflow of foreign funds and firm domestic equity markets. Lower level of American currency index also favoured the Indian unit though an uptrend in crude oil prices capped its gain, forex traders said. Foreign institutional investors (FIIs) purchased equities worth Rs 1,397.02 crore on a net basis on Friday, according to exchange data. This inflow came on the heels of a net buying of equities worth Rs 12,594.38 crore on Thursday. At the interbank foreign exchange, the rupee opened at 8 ...Read More >
MUMBAI (Reuters) -The Indian rupee is expected to open lower on Wednesday, tracking declines in most other Asian currencies and equities amid renewed worries over U.S. President Donald Trump's tariffs. The 1-month non-deliverable forward indicated a open in the 85.62-85.64 range, versus 85.52 on Tuesday. The rupee has been largely range bound in recent sessions, holding between the key support zone at 85.90-86.00 and resistance near 85.30. "Both of these levels are difficult to break," a currency trader at a bank said. "You'll likely have to wait until July 9 for a decisive move, and that's ...Read More >
CHENNAI: The Tamil Nadu Anti-Terrorism Squad (ATS) of the state police on Tuesday said it has arrested two accused wanted in several bomb blasts and communal murder cases after being on the run for over 25 years. The key accused among the two is Abubacker Siddique of Nagore. He is allegedly involved in the attempt to plant a pipe-bomb during the rath yatra of former home minister LK Advani in Madurai in 2011, among others. Other cases he is allegedly involved include the bomb blast at Hindu Munnani office in 1995 in Chennai, an explosion in Nagore the same year, and coordinated planting of bo ...Read More >
New Delhi, Jul 2 (PTI) Tata Steel is confident of completing its transition to green steel manufacturing in the UK and Netherlands as per schedule, the company's Chairman N Chandrasekaran said on Wednesday. He made the remarks while addressing the shareholders at the company's 118th Annual General Meeting (AGM). Also Read | Iran's President Masoud Pezeshkian Approves Law to Suspend Cooperation With IAEA Following Israel, US Strikes. "...we remain confident that the transition to green steel making in the UK and the Netherlands will happen as per our plans, in the next few years," Chandrasek ...Read More >
Mumbai, Jul 14 (PTI) The rupee depreciated 12 paise to close at 85.92 against the US dollar on Monday due to a rise in global crude oil prices and a strengthening greenback against major currencies overseas. Foreign fund outflows and a delay in any breakthrough in the India-US trade deal further pressured the local unit, according to forex traders. At the interbank foreign exchange, the local unit opened at 85.96 and traded in a narrow range of 85.92-86.05 before settling at 85.92, down 12 paise from its previous close. During the session, the local unit depreciated to fall below the 86-lev ...Read More >
Mumbai, Jul 18 (PTI) The rupee stayed weak for the third straight session and settled 4 paise lower at 86.16 against the US dollar on Friday, amid rising global crude oil prices and a steep decline in domestic equity markets. However, a weak greenback against major currencies prevented a sharp depreciation in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened higher against the US dollar at 85.99 and moved in the range of 85.97-86.23 before closing at 86.16, down 4 paise from its previous close. The rupee declined 20 paise to settle at 86.12 against the ...Read More >
The U.S. dollar continued its strong run on Monday, bolstered by soaring Treasury yields and expectations of limited Federal Reserve rate cuts. Meanwhile, the yen steadied ahead of a key speech by Bank of Japan Governor Kazuo Ueda, where he may hint at a possible rate hike in December, with markets pricing a 55% chance of such a move. Japanese Finance Minister Katsunobu Kato's warning on yen intervention caused a temporary pullback, while the dollar index touched a one-year high of 107.07. Analysts forecast further dollar gains as U.S. economic policies and performance outshine global peers. K ...Read More >
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index of Asia-Pacific shares added 0.7%. Both S&P 500 and Nasdaq futures were flat after the cash indexes ...Read More >
(Bloomberg) -- Indian bonds are poised to gain while the rupee is set to weaken as analysts bet on a softer monetary policy after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor. Most Read from Bloomberg Malhotra, a surprise pick, will take charge from Shaktikanta Das under whom the RBI kept borrowing costs unchanged for almost two years. While Malhotra's views on monetary policy are largely unknown, he recently urged revenue officials to prioritize economic growth, and the markets may read his appointment as dovish. The central bank is expec ...Read More >
Mumbai, Jun 27 (PTI) India's forex reserves dropped by USD 1.01 billion to USD 697.93 billion for the week ended June 20, the Reserve Bank of India said on Friday. In the previous reporting week, the reserves had jumped by USD 2.29 billion to USD 698.95 billion. Forex reserves had touched an all-time high of USD 704.885 billion in September 2024. For the week ended June 20, foreign currency assets, a major component of the reserves, dropped by USD 357 million to USD 589.06 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect ...Read More >
The long-term debt (with original maturity of above one year) at end-March 2025 was placed at $601.9 billion, an increase of $60.6 billion over its level at end-March 2024. India's external debt rose to $736.3 billion, or 19.1 per cent of gross domestic product (GDP), at the end of March 2025 from $668.8 billion, or 18.5 per cent of GDP, a year ago. In a statement, the Reserve Bank of India (RBI) said the valuation effect due to the appreciation of the US dollar vis-à-vis the Indian rupee and other currencies amounted to $5.3 billion. Excluding the valuation effect, external debt would have ...Read More >
New Delhi [India], July 2 (ANI): The Reserve Bank of India (RBI) has appointed Kesavan Ramachandran as Executive Director of RBI with effect from July 1. "As Executive Director, Kesavan Ramachandran will look after Department of Regulation (Prudential Regulation Division)," said the central bank in the statement. Also Read | India Developing Its Own Bunker-Buster Missile? Reports Say DRDO Modifying Agni-5 ICBM To Carry Massive Conventional Warhead. Prior to being promoted as Executive Director, Kesavan Ramachandran was serving as Principal Chief General Manager in Risk Monitoring Department ...Read More >
New Delhi [India], July 2 (ANI): The Indian rupee is expected to trade in the range of 85.25-86.25 against the US dollar in the near term, according to a recent report by Bank of Baroda. The report stated that a trade deal between India and the United States will be positive for the rupee and may help support its value further. 'We expect INR to trade in the range of 85.25-86.25/USD in the near term. A trade deal between India and the US will be positive for the rupee,' the report noted. However, some amount of volatility is expected as the US tariff pause deadline on July 9 approaches. De ...Read More >
1. India: New strategy on FX volatility The Indian Respondents' Bank (RBI) is allowing more volatility on the USD/INR exchange rate, prompting many companies to hedge with forward contracts. This is the highest level of coverage since 2020. We thank in advance our Official Broker Partner PEPPERSTONE who supported us in writing this article. FX Impact: Potential weakening of the rupee in the short term, but increased stability in the medium-long term. Volatility on USD/INR, EUR/INR, JPY/INR ? opportunities for carry trades and short-term shorts if the dollar strengthens. 2. Australia hit ...Read More >
Mumbai, Jul 7 (PTI) The rupee logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday amid rising global crude oil prices and a strong American currency. Subdued sentiment in domestic equities due to uncertainties over US President Donald Trump's trade tariffs put further pressure on the local unit, according to forex traders. At the interbank foreign exchange, the domestic currency opened at 85.53 against the greenback and traded in a wide range of 85.51-86.03 before settling at 85.94, lower by 54 paise from its previous close. The rupee rose 15 paise to settle a ...Read More >