Rupee trades in red on Monday Rupee began the week on a negative note, weakening 8 paise to 95.25 against the US dollar in early trade as a firmer greenback and higher global crude oil prices put pressure on the currency.The fall was limited by foreign institutional investor (FII) inflows and the country’s stronger foreign…
The reduction in US government debt holdings has partly been offset by a rise in gold reserves. (AI image) As the Reserve Bank of India (RBI) continues its forex diversification strategy, India’s holdings of US Treasury securities are down to almost a six year low. As per US Federal Reserve data, India’s exposure to US…
Rupee began the week on a weaker note, slipping 10 paise to 95.28 against the US dollar in early trade. The decline came as a stronger US dollar overseas and uncertainty over global developments kept market sentiment under pressure.Rupee opened at 95.25 against the US dollar in the interbank foreign exchange market on Monday before…
India’s foreign exchange reserves rose by $963 million to $672.587 billion in the week ended June 19, reversing the previous week’s sharp decline, as a surge in gold reserves more than offset a fall in foreign currency assets, according to RBI data released on Friday, PTI reported.The country’s forex reserves had declined by $9.985 billion…
Guwahati: Natural gas produced in upper Assam region will, for the first time, be transported through the North East Gas Grid across the north bank of Brahmaputra river up to Baihata Chariali, with plans to extend supply further to Guwahati and other parts of the state via GAIL’s pipeline network.Marking this significant development, chief executive…
Union finance minister Nirmala Sitharaman and state BJP functionaries participate in a Swaach Bharat programme organised to mark PM Narendra Modi completing 12 years in office, in Bengaluru on Sunday Bengaluru: Union finance minister Nirmala Sitharaman Sunday said the ongoing West Asia crisis and India’s dependence on import of three major commodities — crude oil…
Ahmedabad: Gujarat-based textile and chemicals exporters are grappling with delayed export proceeds as several African countries face a shortage of US dollars, leaving payments stalled for months despite goods being delivered. Exporters say the issue has persisted for nearly two-and-a-half months, tightening working capital cycles and raising compliance concerns.Industry executives attribute the bottleneck to high…
Patna: The NDA govt has banned foreign travels on govt’s expenses by the state govt officials for the next six months amid the govt’s focus on strict austerity measures as a result of rising global fuel crisis caused by the conflicts in West Asia. The development comes close on the heels of the PM Narendra…
FM Sitharaman has stressed the need to closely monitor the three critical areas of fuel, fertiliser, and foreign exchange. (AI image) A prolonged US-Iran conflict has finally begun to hit India home, with economists signalling that the longer the crisis continues, the more difficult the situation would become for the economy. Finance Minister Nirmala Sitharaman…
Lucknow: Reacting to Prime Minister Narendra Modi’s austerity appeal, BSP national convener Akash Anand on Thursday said that at a time when the economy is under strain, the govt should work to boost demand rather than suppress it further.In a post on X, Anand said the country needed “not an appeal but a clear way…
