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Indian rupee’s slide to continue despite higher rate cut expectations- Reuters poll

9 Jan 2025

By Anant Chandak and Vivek Mishra BENGALURU (Reuters) – The Indian rupee will extend its steady decline against a strong U.S. dollar amid heightened market expectations of a Reserve Bank of India interest rate cut next month, a Reuters poll of foreign exchange strategists found. Predictions in the latest poll for the rupee were barely …

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Rupee hits record low as broad dollar strength hurts Asian currencies

9 Jan 2025

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened to its lifetime low on Thursday as the dollar strengthened on the back of expectations of slower-than-anticipated rate cuts by the Federal Reserve as well as uncertainty about the incoming U.S. President’s policies. The rupee declined to 85.9325 against the U.S. dollar before closing at …

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Rise in US bond yields, strong NDF dollar bids push rupee to record low

9 Jan 2025

By Jaspreet Kalra MUMBAI (Reuters) -The Indian rupee hit a lifetime low on Thursday, pressured by a rise in U.S. bond yields and strong dollar bids in the non-deliverable forwards (NDF) market while the central bank likely stepped in to cap losses, traders said. The rupee declined to 85.93 per U.S. dollar, weakening past its …

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Indian shares fall on worries over likely slowdown in earnings

9 Jan 2025

By Bharath Rajeswaran (Reuters) -Indian shares dropped on Thursday, with heavyweight HDFC Bank leading the decline, as anxiety over a likely moderation in third-quarter corporate earnings sapped investor confidence. The Nifty 50 fell 0.69% to 23,526.5, while the BSE Sensex shed 0.68% to 77,620.21. The broader, more domestically-focussed smallcaps and midcaps dropped 1.4% and 0.9%, …

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India rupee NDF volume hits record high on arbitrage activity

9 Jan 2025

By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – Trading volume in dollar-rupee non-deliverable forwards (NDF) at India’s offshore finance hub soared to a record high in December as banks and companies lapped up arbitrage opportunities amid a worsening outlook for the rupee. Banks executed NDF trades worth more than $161 billion at the offshore …

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Mercedes to expand in India’s smaller cities as younger generations splurge

9 Jan 2025

By Aditi Shah NEW DELHI (Reuters) – Germany’s Mercedes-Benz, fresh off a year of record sales in India, plans to add another 20 dealerships or service outlets in 2025 – mainly in smaller cities where young, well-travelled business owners are indulging in luxury goods. Rapid economic growth in India has wrought a fundamental shift in …

Mercedes to expand in India’s smaller cities as younger generations splurge Read More »

Aggressive pricing for EXIM India’s dollar debt hints at another robust year

9 Jan 2025

By Dharamraj Dhutia MUMBAI (Reuters) – Export Import Bank of India raised $1 billion via U.S. dollar-denominated bonds on Thursday and investors said the aggressive pricing for the first such issuance in 2025 could mean yet another robust year for such papers. EXIM sold 10-year dollar-denominated bonds at 5.50%, a spread of 100 basis points …

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India’s small, mid-cap funds boost overall flows into equity mutual funds in December

9 Jan 2025

By Bharath Rajeswaran (Reuters) – Inflows into India’s equity mutual funds rose about 15% month-on-month in December, with investors continuing their buying spree unaffected by the prospect of fewer U.S. rate cuts in 2025 and worries of likely moderation in earnings. Inflows into equity mutual funds rose to 411.56 billion rupees ($4.8 billion) last month …

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India’s new central bank chief seeks to improve forecasts, sources say

9 Jan 2025

By Siddhi Nayak and Swati Bhat MUMBAI (Reuters) – India’s new central bank governor Sanjay Malhotra has initiated a review of the Reserve Bank of India’s inflation and growth forecasting tools to minimise projection errors, four sources said. Malhotra, who took charge last month, is asking the RBI’s internal teams to include new datasets, analysis …

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HSBC downgrades Indian stocks to ‘neutral’ on tapering growth, lofty valuations

9 Jan 2025

(Reuters) – HSBC cut its rating on Indian equities to “neutral” on Thursday, joining a growing list of global brokerages that have tempered their bets on Asia’s third-largest economy on slowing growth and elevated valuations. The brokerage slashed its end-2025 target for the BSE Sensex by 5% to 85,990. That implies a 10% upside for …

HSBC downgrades Indian stocks to ‘neutral’ on tapering growth, lofty valuations Read More »

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