MUMBAI (Reuters) -The Reserve Bank of India likely stepped in, via state-run banks, to buy dollars on Friday, five traders said, as the rupee rallied to a near six-month high on dollar inflows and cutting of bearish positions on the local currency. The rupee was last quoted at 84.4275 per U.S. dollar, little changed on …
Indian central bank likely buying dollars via state-run banks, traders say Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) -India’s markets regulator has alleged Pranav Adani, director of several Adani group companies and the nephew of the billionaire founder, shared price sensitive information and breached regulations aimed at preventing insider trading, according a document reviewed by Reuters. Adani, the nephew of Gautam Adani, was sent a notice by …
Indian regulator accuses Adani nephew in insider trading case, he seeks to settle Read More »
By Shubham Batra NEW DELHI (Reuters) -India’s central bank has sought the government’s approval to remove the cap on foreign banks with so-called vostro accounts buying short-term sovereign debt, to boost rupee-denominated investment and trade, according to two sources and a letter seen by Reuters. Vostro accounts are typically held by a domestic bank on …
By Nidhi Verma NEW DELHI (Reuters) -Indian fuel retailer Bharat Petroleum Corp Ltd expects a net gain of $20 to $30 a metric ton on delivery of U.S. liquefied petroleum gas through swap deal with Middle Eastern suppliers, its head of finance said on Friday. BPCL, India’s second-biggest state refiner, is in talks with suppliers …
India’s BPCL eyes $20–30/ton gain from swap of Middle East LPG with cheaper US supplies Read More »
(Reuters) -India’s central bank deputy governor Poonam Gupta has been assigned the monetary policy, financial market operations and economic and policy research portfolios, the Reserve Bank of India said on Friday. Gupta had been appointed as deputy governor in April but took charge on Friday. A former World Bank and IMF economist, Gupta will now …
India central bank deputy governor Poonam Gupta assigned key monetary policy portfolio Read More »
By Abhijith Ganapavaram NEW DELHI (Reuters) -India’s aviation regulator has allowed Air India to temporarily extend the maximum duty hours and rest period for pilots on long-haul routes to allow the airline to tackle Pakistan’s airspace ban, according to an internal memo. The exemption is for about two weeks beginning April 30 and is applicable …
Air India allowed to temporarily extend duty, rest for long-haul crew, memo shows Read More »
NEW DELHI (Reuters) -India and the European Union have reaffirmed their commitment to conclude their free trade agreement by the end of 2025, the Indian government said in a statement on Friday. (Reporting by Tanvi Mehta; Editing by Christian Schmollinger)
BENGALURU (Reuters) – India’s manufacturing sector growth accelerated in April to its strongest pace in 10 months, powered by robust export demand and increased output despite companies raising selling prices at the fastest rate in over 11 years, a survey showed on Friday. The HSBC India Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, …
India’s April manufacturing growth reaches 10-month high as exports surge, PMI shows Read More »
By Jaspreet Kalra MUMBAI (Reuters) -The Indian rupee rose sharply in early trading on Friday to climb past 84 per U.S. dollar for the first time since October 2024, driven by heavy dollar sales from foreign banks and strength in regional currencies. The rupee climbed to a peak of 83.83, up 0.7% from its close …
Rupee rally unabated; analysts abandon bearish outlook Read More »
By Nimesh Vora MUMBAI (Reuters) -The Indian rupee’s ascent to multi-month highs may extend further on Friday, supported by a broad uptick in Asian peers and anticipated portfolio inflows. The one-month non-deliverable forward indicated that the rupee will open at 84.42-84.44 to the dollar, inching up from its close of 84.4875 on Wednesday. India’s financial …
Rupee’s rally likely to extend on positive Asian cues, inflow hopes Read More »
