Forex

  • GST: No Need For FY22 Annual Return if Turnover Up To Rs 2 Crore; UPI Allowed For GSTN Payment July 6, 2022 10:22 am GST Council Recommendations Accepted: The government has exempted registered persons whose aggregate turnover in the financial year 2021-22 was up to Rs 2 crore from filing the annual return for the financial year. The Unified Payments Interface (UPI) and …
  • India’s Currency and External Sector in Worrisome Zone July 6, 2022 9:32 am A version of this article was first published on The India Cable – a premium newsletter from The Wire & Galileo Ideas – and has been republished here. To subscribe to The India Cable, click here. The last few weeks saw the Reserve Bank of India (RBI) …
  • India Asks Sri Lanka To Pay For Fuel In Advance As Credit Lines Exhausted: Report July 6, 2022 8:59 am As credit lines to Sri Lanka were exhausted, India is seeking payment in advance for supply of fuel to the island nation, citing sources, Bloomberg reported on Wednesday. Quoting sources, the news agency reported that the Indian government officials said …
  • Auto: June Auto Sales July 6, 2022 7:37 am The authors are analysts of Shinhan Investment Corp. They can be reached at [email protected] and [email protected], respectively. -- Ed.   Domestic: Focus on product mix rather than sales volume Domestic auto sales (excluding imported cars) …
  • South Korea’s Foreign Exchange Reserves Drop by US$9.43bn in June July 6, 2022 7:37 am The Bank of Korea announced on July 5 that South Korea’s foreign exchange reserves were US$438.28 billion at the end of June, the reserves decreased by US$9.43 billion that month, the amount of decrease is the largest since November 2008, and the reserves …
  • ED summons crypto execs; startup valuations drop sharply July 6, 2022 7:32 am It’s hard being a crypto company in India. On July 3 we reported that days after the 1% tax on all crypto transactions kicked in, trading volumes on some exchanges fell 70% or more. Now, sources tell us the ED has issued notices to a few crypto firms and …
  • Industry body CII pitches for GST simplification, reduction in tax slabs July 6, 2022 6:58 am CII’s President Sanjiv Bajaj on Tuesday pitched for the simplification of Goods and Services Tax structure, and suggested that electricity as well as fuel should be brought under the GST ambit as that will help make the industry more competitive. He also …
  • Important Information For July 6 Stock Trading Strategy July 6, 2022 5:56 am The Indian equity benchmarks are likely to open higher on Wednesday as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 48 points or 0.3 per cent to 15,814. …
  • Rupee to depreciate on strong dollar, FII outflows, risk aversion in markets; USDINR to trade in this range July 6, 2022 3:32 am The Indian rupee is expected to depreciate further on Wednesday amid strong dollar and risk aversion in the global markets. Additionally, persistent FII outflows and widening of current account deficit will hurt rupee. Market participants will keep an eye …
  • Sri Lanka to organise international donors conference of India, Japan & China: PM July 6, 2022 3:31 am Prime Minister Ranil Wickremesinghe on Tuesday announced that Colombo is planning to host an international donors conference involving three major Asian economies – India, China and Japan – to revive the sagging economy. Speaking in Parliament on Tuesday …
  • ED notices to top crypto sites seek info under FEMA July 6, 2022 3:08 am The Directorate of Enforcement (ED) has sought further details and documents from cryptocurrency firms as part of its ongoing probe into alleged instances of foreign exchange violations, if any, by these firms, sources said. ED has sent out notices to …
  • Re may face more heat as repayments worth $267 bn of $621 bn external debt come up July 6, 2022 1:46 am The rupee, which Tuesday fell to a new record low on unabated withdrawals by portfolio investors amid tightening global monetary conditions, could face further pressure as record external debt comes up for repayment through the course of this fiscal year …
  • Currency markets in turmoil July 5, 2022 10:22 pm Rupee closed at a record low of 79.37 against dollar over fears of widening of CAD following an all-time high trade deficit in June Representational image. File photo Our Special Correspondent   |   Mumbai   |   Published 06.07.22, 02:43 AM Currencies …
  • Rupee falls by 41 paise, reaches lifetime low of 79.36 against US dollar July 5, 2022 9:42 pm The rupee on Tuesday fell by 41 paise to close at another lifetime low of 79.36 against the US dollar, NDTV reported. The domestic currency opened at 79.04 against the dollar in the forex market. It reached an intra-day high of 79.02 and intra-day low of …
  • Forex Offers Genuine Online Trading to All Investors to Make Money July 5, 2022 9:25 pm Like Forex and shares, commodity derivatives’ trading is growing popular among the Indian investors, as the market has opened up nation-wide platforms for retail investors and traders to participate in commodities. Multi-commodity exchanges like the …
  • A matter of import: On spectre of wider trade and current account deficits July 5, 2022 7:19 pm India’s monthly merchandise trade deficit hit a fresh record of $25.6 billion in June as per preliminary estimates released by the Commerce and Industry Ministry on Monday. This is the third occasion in seven months and the second month in a row that the …
  • Rupee likely to hit 81 against dollar by FY23-end, here's why July 5, 2022 5:56 pm The widening of trade deficit to fresh record highs has made a case for further depreciation of the Indian rupee against the dollar. The local currency is seen to reach up to 81 by March 2023 end. On Thursday, the rupee hit a record low of 79.33 against …
  • Rupee record plunge: Congress reminds PM of jibe during UPA rule; govt sitting idle July 5, 2022 4:21 pm As the rupee fell to yet another record low against the US dollar, the Congress on Tuesday reminded Prime Minister Narendra Modi of his jibe when the UPA was in power, and alleged the BJP-led government was sitting "idle" and doing nothing to …
  • Redemption pressure of Short-term debt to add to RBI's forex management challenges July 5, 2022 4:08 pm The Rupee which has been facing the heat due to withdrawals by portfolio investors, has another trouble brewing - maturing external debt of Indian companies. About 43.1 percent or $267 billion worth of external debt of the $620.7 billion amounting to 44 …
  • Crisis-hit Sri Lanka to Organise Donor Conference With India, China and Japan July 5, 2022 2:53 pm Prime Minister Ranil Wickremesinghe told Parliament on Tuesday that Sri Lanka will organise a donor conference of friendly countries like India, China and Japan once a staff-level deal is reached with the IMF on a bailout package, as the economic crisis- …
  • India News | Rs's Record Plunge: Cong Reminds PM of Jibe During UPA Rule, Says Govt Sitting Idle July 5, 2022 1:39 pm New Delhi, Jul 5 (PTI) As the rupee fell to yet another record low against the US dollar, the Congress on Tuesday reminded Prime Minister Narendra Modi of his jibe when the UPA was in power, and alleged the BJP-led government was sitting "idle" …
  • 5G spectrum auctions might not see a bidding war as there’s ‘enough’ for everyone July 5, 2022 1:08 pm 5G spectrum auctions are almost here after years of delay. With the AGR dues case behind them, telcos and the government are coordinating to address each other’s needs. Yet, 5G spectrum auctions may not offer the bumper harvest that 4G did. We decode all …
  • Rupee plunges by 41 paise July 5, 2022 12:25 pm Brent crude futures, the global oil benchmark, fell 1.10 per cent to USD 112.25 per barrel Our Bureau, PTI   |   Mumbai   |   Published 05.07.22, 04:54 PM The rupee fell by 41 paise to close at a fresh lifetime low of 79.36 (provisional) against the US …
  • Indian Rupee US Dollar Exchange Rate Today July 5, 2022 12:15 pm The Indian rupee on Tuesday lost 41 paise to end the day at a brand-new lifetime low of Rs. 79.36 against the US dollar due to a strong foreign currency and persistent outflows of foreign funds. The rupee started out at Rs. 79.04 against the dollar on the …
  • India: Rupee hits record low against US dollar July 5, 2022 11:54 am The partially convertible rupee closed trading at 79.37/38 per dollar, after hitting a life low of 79.3750 Indian rupee, gold rates, Rupee rate, forex rate, RBI, Brexit By Reuters Published: Tue 5 Jul 2022, 3:37 PM The Indian rupee hit a record low …
  • Rupee declines by 38 paise to new low of 79.33 against USD on CAD concerns July 5, 2022 11:53 am The rupee fell by 38 paise to close at its lifetime low of 79.33 against the US currency on Tuesday due to a stronger greenback overseas and unrelenting foreign fund outflows. Widening trade deficit, weakness in global currencies against the dollar and …
  • Rupee plunges by 41 paise to record low of ₹79.36 against US dollar July 5, 2022 11:43 am India’s merchandise exports in June rose by 16.78% year-on-year to $37.94 billion while the trade deficit ballooned to a record $25.63 billion on account of a steep increase in gold and crude oil imports India’s merchandise exports in June rose by 16.78% …
  • Industry body CII pitches for simplification of GST, reduction in tax slabs July 5, 2022 10:58 am CII’s President Sanjiv Bajaj on Tuesday pitched for the simplification of Goods and Services Tax structure, and suggested that electricity as well as fuel should be brought under the GST ambit as that will help make the industry more competitive. He also …
  • First time in Forex trading, Mauritius-based Digibits launches uniqu July 5, 2022 10:46 am ANI | Updated: Jul 05, 2022 14:53 IST New Delhi [India], July 5 (ANI/PNN): Digibits Media Network, a global broker specialising in Forex trading based in Mauritius, has introduced new schemes and opportunities for their managing partners to handle …
  • Business News | First Time in Forex Trading, Mauritius-based Digibits Launches Unique Schemes for Its Managing Partners to Earn Hefty Revenue July 5, 2022 9:33 am New Delhi [India], July 5 (ANI/PNN): Digibits Media Network, a global broker specialising in Forex trading based in Mauritius, has introduced new schemes and opportunities for their managing partners to handle their customers' portfolio management, …
  • Important Information For July 5 Stock Trading Strategy July 5, 2022 4:26 am The Indian equity benchmarks are likely to open higher on Tuesday as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 47 points or 0.3 per cent to 15,870. The BSE …
  • Rupee may appreciate on optimistic market sentiments; FII outflows, elevated crude prices likely to cap gains July 5, 2022 3:30 am The Indian rupee is expected to appreciate on Tuesday amid optimistic global market sentiments. However, sharp gains may be prevented on elevated crude oil prices and consistent FII outflows. Additionally, investors fear that major central banks attempt to …
  • Can forex reserves plug India's dollar shortage? July 5, 2022 2:41 am Updated: Jul 4, 2022, 22:31 IST With oil prices up, a record trade deficit of $70.25 billion in the April-June quarter, rupee sliding and GoI taking some policy calls, India’s responses to external sector challenges are crucial. Here’s how to read the …
  • Share Market LIVE: Nifty crosses 16000, Sensex jumps 500 pts; Services PMI rises fastest since 2011 July 5, 2022 1:58 am Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets indices BSE Sensex and NSE Nifty 50 were up 1% each on Tuesday. BSE Sensex jumped more than 500 points or 1 per cent to 53,800, while NSE Nifty 50 topped 15,600 on Tuesday. …
  • Cash gush puts lid on yields July 4, 2022 11:22 pm Brent crude is now trading at around $113 per barrel, down from over $120 per barrel nearly a month ago The recent duty hikes on crude and petroleum products (if maintained through the year) have helped minimise that risk. File photo Our Special …
  • Govt to address ‘volatility’ in rupee, committed to 6.4% fiscal deficit target: Report July 4, 2022 6:44 pm Further, the official stated that the government would stick to the fiscal deficit target of 6.4% of GDP for the 2022-23 financial year as India's macroeconomic fundamentals are strong to deal with global challenges. He also said that the government is …
  • How will DESH boost Indian manufacturing? July 4, 2022 5:33 pm Why replace the existing SEZ Act? The World Trade Organization’s dispute settlement panel has ruled that India’s export-related schemes, including the SEZ Scheme, were inconsistent with WTO rules, since it directly linked tax benefits to exports. Countries …
  • India's record $25.6-bn trade deficit in June adds pressure on rupee July 4, 2022 4:07 pm India's June trade deficit widened to a record $25.63 billion, pushed by a rise in crude oil and coal imports, from $9.61 billion a year ago, adding to fears of further pressure on the rupee. New Delhi is worried about rising imports after a surge in …
  • India's record trade deficit in June adds pressure on currency July 4, 2022 3:32 pm New Delhi is worried about rising imports after a surge in global crude and commodity prices following the Ukraine war, and rising demand for coal and other goods fuelled by the domestic economic recovery. India's rupee has plunged 6% against the …
  • Small-cap indices witness sharp correction from the highs of Oct’21 July 4, 2022 3:22 pm New Delhi: Small-cap indices have corrected sharply from the highs of October 2021. While the Nifty-50 declined 15 percent from its October 2021 peak against a 20 percent decline in midcaps and 28 percent decline in smallcaps, the broader market has …
  • Small-cap indices witness sharp correction from the highs of October 2021 July 4, 2022 3:22 pm Small-cap indices have corrected sharply from the highs of October 2021. While the Nifty-50 declined 15 per cent from its October 2021 peak against a 20 per cent decline in midcaps and 28 per cent decline in smallcaps, the broader market has witnessed a …
  • Rupee recoups early losses to close almost flat at 78.95 against dollar July 4, 2022 3:16 pm The rupee paired its early losses to close almost flat at 78.95 against the US dollar on Monday due to weakness in the greenback, lower crude oil prices and gains in the local stock markets. At the interbank forex market, the local unit opened lower at 78. …
  • Govt. said to remain committed to 6.4% fiscal deficit target for FY23 July 4, 2022 2:32 pm India's macroeconomic fundamentals are strong to deal with global challenges and the central government is committed to sticking to the fiscal deficit target of 6.4% of the GDP for the current fiscal, official sources said on Monday. The government is …
  • Do I need to worry when a currency fluctuates? July 4, 2022 1:49 pm You may think you have or are earning the same amount of money before the last depreciation in the currency’s value. So, you can buy the identical amounts of goods or services as before. However, it does not work like that. Let’s unpack this. First, look …
  • Rupee settles flat at 78.94 July 4, 2022 1:33 pm Brent crude futures, the global oil benchmark, fell 0.26 per cent to USD 111.34 per barrel Rupee paired its early losses and settled on a flat note at 78.94 File picture Our Bureau, PTI   |   Mumbai   |   Published 04.07.22, 05:27 PM The rupee paired its …
  • Why Government Hiked Import Duty On Gold And How Will It Affect Jewellery Prices July 4, 2022 1:26 pm Gold prices have already been high since the Covid-19 pandemic began but if you are planning to buy new jewellery, it is set to cost you more now as the government has hiked the import tax on the yellow metal.  The government has hiked the import duty on …
  • Rupee settles flat at 78.94 against U.S. dollar July 4, 2022 1:07 pm The rupee paired its early losses and settled on a flat note at 78.94 (provisional) against the United States dollar on Monday. At the interbank forex market, the local unit opened at 78.97 against the greenback and fell to an intra-day low of 79.06. It …
  • RBI Spent Over $41 Billion From Its Reserves Defending Rupee Since February 2022, Says Report July 4, 2022 9:48 am After falling to all-time lows multiple times in the past few months, the Indian Rupee again dropped to its new all-time low last week, after breaching the 79 per dollar mark.  And amid the downfall of the rupee, it has come to light that the Reserve Bank …
  • Govt to review oil export, windfall tax based on forex rate, int’l oil prices every fortnight July 4, 2022 9:24 am The government will review the just introduced windfall tax on domestically produced crude oil and fuel exports every two weeks based on foreign currency rates and international oil prices, but no levels have been fixed for its recall, top officials said …
  • Why Pakistan’s current situation takes us back to the past? July 4, 2022 7:54 am In American slang, a “lemon” is a car that causes more trouble than it is worth”, as in “I bought a car from that dealership, but it turned out to be a lemon.” Dale Carnegie wrote about once having visited a farmer in Florida who turned even a poison lemon …
  • Indian rupee slips against UAE dirham on foreign funds outflows July 4, 2022 7:46 am   The Indian rupee depreciated nine paise to 79.03 against the US dollar (21.53 against the UAE dirham) in opening trade on Monday, as persistent foreign funds outflows weighed on investor sentiments. Forex traders said the weakness of crude oil prices is …
  • What Accenture's Q3 means for Indian IT July 4, 2022 6:50 am Despite a healthy March-May quarter (Q3FY22) show by global IT consulting firm Accenture, Indian IT companies shed up to 3 per cent on the National Stock Exchange (NSE) on Friday as analysts continued to highlight medium-term pain points for the sector. …
  • Indian Rupee falls for 6th straight month in June; may remain patchy on capital outflow, dollar liquidity July 4, 2022 6:50 am By Dilip Parmar The Indian rupee extended its drop for the sixth month in trot and closed to life low level of 78.98. India’s expanding trade gap and capital outflows are raising new risks for the rupee, as the currency plunged to a record low it also adds …
  • 'Amazon In India For Next 100 Years' July 4, 2022 6:40 am 'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'   In an office at the World Trade Center in the northwest neighbourhood of Bengaluru, Manish Tiwary is busy …
  • Azentio Achieves Leadership Position In Multiple Categories In The IBS Intelligence Sales League Table 2022' July 4, 2022 6:28 am (MENAFN- PR Newswire) Ranked First in Credit Scoring and Domestic Leader | ASEAN SINGAPORE, July 4, 2022 /PRNewswire/ -- Azentio Software ('Azentio'), a Singapore-headquartered technology firm owned by funds advised by Apax Partners , is …
  • Key Things To Know Before The Markets Open Today July 4, 2022 5:38 am The Indian equity benchmarks are likely to open higher on Monday, July 4, as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures of Singapore Exchange also known as SGX Nifty Futures rose 99 points or 0.63 per cent to 15,844. …
  • The weakness in crude oil prices is supporting the rupee, says a dealer July 4, 2022 5:17 am The rupee depreciated 9 paise to 79.03 against the US dollar in opening trade on Monday, as persistent foreign funds outflows weighed on investor sentiments. Forex traders said the weakness of crude oil prices is supporting the local unit. However, …
  • India News | Rupee Falls 9 Paise to 79.03 Against US Dollar in Early Trade July 4, 2022 4:44 am Mumbai, Jul 4 (PTI) The rupee depreciated 9 paise to 79.03 against the US dollar in opening trade on Monday, as persistent foreign funds outflows weighed on investor sentiments. Forex traders said the weakness of crude oil prices is supporting the local …
  • Hike in import duty on gold may fuel smuggling July 4, 2022 3:47 am The government has hiked gold import duty to 15 per cent from 10.75 per cent to check the current account deficit (CAD) and rising import of the yellow metal. The duty changes came into effect on June 30. Earlier, the basic customs duty on gold was 7.5 per …
  • RBI defended rupee with $41 billion over 5 months, says report July 4, 2022 2:47 am Mumbai: The Reserve Bank of India (RBI) is estimated to have spent more than $41 billion of its reserves since February this year in defending the rupee. As a result of this and the rising crude bill, the reserves — which were enough to cover over one year …
  • Falling rupee leaves economy bleak in Kerala, NRIs jubilant July 3, 2022 10:14 pm Express News Service KOCHI: Francis Joseph (name changed) and his wife work in Abu Dhabi and are coming to Kerala later this month for holidays. High on their to-do list is buying property in Kerala using their savings from the past three years. The fall …
  • Further slide in rupee may crimp company margins, increase risks July 3, 2022 7:19 pm While Indian corporates have seen a only marginal impact from the rupee’s slide so far, experts warned that the risks are building up, and any further weakening of the currency may start hurting companies. The rupee continued to remain under pressure in …
  • The economic aspect of foreign relations in South Asia July 3, 2022 7:09 pm By P.K.Balachandran Colombo, July 3 (Factum): All South Asian countries, not just Sri Lanka, are facing economic problems such as a shortage of essentials commodities, rising inflation, fall in the value of the local currency against the US dollar, and …
  • SIB to launch special services for NRIs July 3, 2022 6:36 pm SIB’s NRE deposits have grown consistently and touched Dh12.88 billion) as on March 31, 2022. Murali Ramakrishnan. — Supplied photo Published: Sun 3 Jul 2022, 6:48 PM Last updated: Sun 3 Jul 2022, 8:42 PM South Indian Bank Limited (SIB) will soon be …
  • Soaring Crude Oil Prices Are Pummelling the Rupee. When Will the Pain Stop? July 3, 2022 5:50 pm Mumbai: The noose of rising crude oil prices seems to be tightening around the Indian rupee. On Friday, July 1, the INR touched a low of 79.20 against the US dollar before easing to 78.94. The going has been pretty miserable for the Indian rupee since the …
  • Sri Lanka hopes for improved fuel availability with more shipments reaching this month July 3, 2022 4:23 pm Colombo, Jul 3 (PTI) The Sri Lankan government on Sunday said that it is hoping that the fuel availability in the country will improve in a week’s time with four fuel shipments, including three of diesel, likely to arrive this month. Addressing a media …
  • CAD likely to double in FY23; rupee seen crossing 80/$: Economists July 3, 2022 1:01 pm The Centre's raft of measures to improve the trade balance will unlikely arrest the rupee's fall with India's current account deficit, or excess of imports over exports, set to more than double in FY23. While the export duty on oil could …
  • Why the Recent Massive Outflow of Capital Matters for India July 3, 2022 11:09 am For the past nine months, foreign portfolio investors (FPIs) have been on a heavy selling spree in the Indian financial markets. According to data compiled by the National Securities Depository Limited, FPIs have pulled out a whopping Rs 255,879 crore ($33 …