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why the rupee's depreciation cannot help boost india's exports by itself




since the beginning of this year, the indian rupee has fallen by around 9 per cent against the dollar. some have argued that this decline in the currency’s value will help improve india’s export competitiveness, thereby boosting its flagging exports. but is this really the case? will a weaker cu...



strong rupee, weak exports hurt gdp growth




exports, which account for nearly a fifth of the economy, are turning out to be india’s achilles heel at present. exports growth has been anaemic in the past two years despite a strong show by asian rivals such as vietnam, bangladesh and the philippines. however, it would be difficult for the econ...



rupee might stabilise at 68-69 a dollar: garg




the rupee, which has taken a severe battering of late, is expected to stabilise at 68-69 per us dollar level riding on positive capital inflows this month, economic affairs secretary subhas chandra garg said on saturday. the rupee is already asia's worst performing currency and had touched an all-ti...



india's cad to widen to 2.5% of gdp in fy19 on higher oil prices: moody's




india's current account deficit (cad) will widen to 2.5 per cent of the gdp in the current fiscal due to higher oil prices that has been accentuated by rupee depreciation, moody's and other experts have said. rupee last week dropped to a record low of 70.32 to a us dollar as political turmoil in tur...



weak rupee not enough to tip the scale in favour of india's exports




a weak currency is good for exports. in india’s case, the script is not so straightforward. while the rupee is asia’s worst-performing major currency this year, a demand-killing trade war threatens indian exports that have already been hurt by policy disruptions over the past two years. history ...



rupee may cross 70 in the short-term, but only for a brief period: experts




the rupee may cross 70 in the short-term, but only for a brief period, according to currency dealers and economists. even as the rupee hit a lifetime intra-day low of 69.09 on thursday, the reserve bank of india’s (rbi’s) intervention brought it back to 68.36. it closed at 68.47 against the doll...



india's biggest trade deficit in more than five years adds to rupee's woes




india’s trade deficit in july widened to the most in more than five years, worsening the outlook for the rupee that hit a record low on tuesday. the gap between exports and imports reached $18 billion in july, fanned by a higher oil import bill, according to data released by india’s commerce min...



sensex on a high but foreign investors gain little




foreign investors who put their money into india’s stock market and held on to their portfolios through the financial ups and downs of the last decade have made virtually no gains, thanks to a falling rupee. the market, however, touched new highs in this period. the returns for foreign investors a...



here's how the rupee slump can complicate matters for modi government




the rupee's plunge to a record low has worried a wide cross-section of india's society: companies, importers, those going on vacation and students planning to study overseas. but if the weakness persists, prime minister narendra modi's job could become a lot harder just before big state and national...



rupee likely to remain at 68-72 against usd in next 2-4 months: ubs report




the rupee is expected to be around 68-72 against the usd in the next 2-4 months, and the depreciation bias in the domestic currency is likely continue, says a ubs report. according to the global financial services major, the rupee is expected to strengthen, and by the end of this financial year rupe...



as rupee approaches 70, assocham urges rbi, finmin to ensure stability




the reserve bank of india (rbi) and the finance ministry should work in unison to ensure that the rupee does not face any more significant fall from the current levels, the assocham said. this comes after the indian rupee plunged to an all-time low of rs.68.89 per us dollar earlier this week, owing...



gst refund of over rs 200 billion pending with government, says fieo




despite exporters still waiting for a massive rs. 20,000 crore of tax refunds under the goods and services tax (gst) regime and labour intensive sectors showing contraction, the apex exporters body in the country has pegged india's exports at $ 350 billion in the current financial year up from last ...



readymade garment exports up 25% in sept; firms say can't sustain growth




after seeing a contraction for three months in a row, readymade garment (rmg) exports rose by 25 per cent in rupee terms and 30 per cent in dollar terms in september. however, exporters said this would not be sustainable due to the government's unfavourable policies. of the total rmg exports, 52 per...



international funds gain on rupee fall, commodity gain




international funds have emerged the best-performing ones in the past month, with rupee depreciation and a rise in commodity prices propping their returns. average category returns for the past month have been 3.6 per cent, higher than all other categories, including diversified equity funds. the be...



why the falling rupee failed to arrest a 7-month decline in apparel exports




despite rupee depreciating against the greenback by almost 6 per cent in recent months to trade around rs 68 per us dollar, india's apparel exports have not benefited from the trend, resulting in a 22.76 per cent fall for the month of april in dollar terms, sliding for the seventh consecutive month....



cotton blooms as us-triggered trade war intensifies, yarn prices up 10%




cotton yarn prices have jumped a little over 10 per cent in two weeks, due to a sharp increase in demand from markets abroad, following rupee depreciation. along with yarn, there has been an increase in orders for indian cotton from china , following a build-up in its trade war with the us. in a ret...



india's apparel exports fall by 10.25% to rs 93 bn in february 2018




with india's apparel exports further declining by 10.25 per cent during the month of february 2018 against the corresponding month of february 2017, industry body apparel export promotion council (aepc) has raised concerns over the downward trend. as per the latest trade data released by aepc, india...



india's gdp brawl could hurt modi politically and prevent a rupee reset




just as some analysts were starting to believe in a reset for the indian rupee, with the government becoming more relaxed about letting it weaken, history got in the way. the history in question is past gdp data, which haven’t been officially released after india reworked its calculation methodolo...



external factors behind rupee's fall to record low, nothing to worry: govt




attributing the fall in rupee value against the us dollar to "external factors", economic affairs secretary subhash chandra garg said today that there is nothing to worry about as long as the depreciation is in line with other currencies. the rupee crashed to a record low of 70.09 during the day on ...



govt says no concern over rupee, analysts see no benefit for exports




as the rupee slid to its all-time low, the government tried to assuage sentiments on tuesday, saying that the fall in exchange rate was because of external factors and was not a cause of concern. “the rupee is depreciating because of external factors. there nothing at this stage to worry,” econo...



rising crude oil price hits india's synthetic yarn industry




increase in crude oil prices have led to a sharp rise in its derivative petrochemicals, plastic-making raw material polymers and feedstock like naphtha. rise in prices of petrochemical raw materials such as purified terephthalic acid (pta) and mono-ethylene glycol (meg) along with the rupee fall has...



after 12 straight months of growth, exports may face real test sept onwards




experts say 10.3% jump in august exports was on low base effect even as liquidity crunch remains and rupee may appreciate



as greenback strengthens overseas, rupee slips 5 p to 68.87 against dollar




extending losses for the second session, the rupee weakened by 5 paise to trade at 68.87 against the us dollar in early trade on wednesday on sustained capital outflows as the greenback strengthened overseas. forex dealers said besides increased demand for the us currency from importers, persistent ...



rbi says rate hike wasn't meant to boost rupee; analysts say it will




reserve bank of india governor urjit patel signaled that wednesday's interest-rate hike was not aimed at defending the rupee. analysts say that the move will still provide the much-needed support to the currency. for hsbc holdings plc and nomura holdings inc., it bolsters the rbi's credentials on th...



most companies, barring a few, can withstand ongoing rupee fall: report




most domestic corporates, barring a few, can withstand the ongoing rupee plunge as the share of their dollar-linked earnings largely balance the share of their greenback-denominated debt, says a report. the rupee fell beyond rs 70 to the dollar, closing at an all-time low on thursday at 70.15, while...