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.
Macroeconomic factors including uncertainty related to the ongoing Russia-Ukraine war are likely to have some impact on IT services companies with considerable presence in Eastern Europe
The US currency’s rapid rise will make it harder for other countries to curb inflation
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An aggressive international trade lobbying is required to actively promote Rupee trade with dominant economies
The dollar was back at 114.70 yen , after dropping 0.4% overnight and away from last week's top at 115.68 which now marks major resistance. Still, it remains comfortably above key support around 113.47.
ICICI Direct expect the Euro appreciated by 0.32% yesterday mainly on the back of weakness in dollar and rise in risk appetite in the global markets.
The euro sank with the British pound after the Netherlands went into lockdown on December 19 and Britain's health minister declined to rule out the chance of further restrictions before Christmas amid the rapid spread of the Omicron coronavirus variant
The seizure of fake currency notes increased 191% in 2020, according to data from the National Crime Records Bureau. Rs 2,000 notes accounted for 53 percent of the total seizure by value, followed by Rs 1,000, at 35 percent.
The dollar traded at 109.165 yen, near the low end of its trading range since mid-August.
After quite a lot of debate over the years, he said, people have fully understood that crypto cannot be a currency because the fundamental element of a currency- that it should be a legal tender- is missing in this case.
Mobius, who has over 30 years of experience at Franklin Templeton Investments, has cited the increased government expenditure in form of pandemic stimulus as the reason behind a likely devaluation of currencies.
ICICI Direct, The rupee recovered by 17 paise to close at 74.26 on Thursday on a sharp recovery in equities, softness in dollar index from higher levels•
FM Nirmala Sitharaman said the gradual scaling back of lockdowns, along with the astute support of Aatmanirbhar Bharat Mission has placed the economy firmly on the path of recovery from the second half of FY21.
Equity markets declined as investors turned risk-averse, with defensive stocks gaining both on Wall Street and in Europe.
The euro was little changed at $1.19385, struggling to recover the $1.20 level while the dollar consolidated at 110.80 yen, not far from June 23's 5-month high of 110.105.
The US dollar index was steady at 91.833, off a week-ago high of 92.408 but clear of troughs below 90 that it had plumbed in May.
Indian markets are currently trading at a premium to 10-year averages and seem quite balanced as it factors in a sharp revival in growth, says Aggarwal.
The US dollar rose to its highest level in almost two months after the Federal Reserve put out projections for the first post-pandemic interest rate hikes into 2023
The dollar boasted its strongest single day gain in 15 months as 10-year US Treasury yields jumped by the most since early March.
The shares of Rs 100, Rs 50 and Rs 10 notes also fell, while those of Rs 500 and Rs 200 rose
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Fear of contracting the deadly coronavirus has led to a global decline in cash usage and a surge in digital payments worldwide. However, despite the rise in digital payments in India, the overwhelming majority — almost 90 percent — of transactions in the country involve cash.
The electronic Chinese yuan is now being tested in cities such as Shenzhen, Shanghai and Beijing. No other major power is as far along with a homegrown digital currency.
In the initial years, the notes and coins were backed by the commodities such as gold, silver etc. This meant that volume and value of currency circulated were based on the value of gold/silver reserves held by the authorities which were mainly central banks