INR=X - USD/INR
| Previous close | 70.799 |
| Open | 70.799 |
| Bid | 70.799 |
| Day's range | 70.799 - 70.799 |
| 52-week range | 68.2023 - 72.6200 |
| Ask | 70.849 |
- Reuters
Rupee on slippery slope for a year at least: Reuters poll
The Indian rupee will not recover lost ground in the coming year, according to a Reuters poll of currency strategists who are more pessimistic than last month amid doubts over any kind of trade truce between the United States and China. Most emerging markets currencies have depreciated against the U.S. dollar, hurt by the tit-for-tat trade war between the world's two largest economies, and there are scant signs of a resolution anytime soon. Also weighing on the currency's outlook, the Reserve Bank of India has cut its key interest rate by 135 basis points so far this year to support a slowing economy.
- Reuters
Sensex, Nifty end lower on weak rupee, factory data; focus on inflation data
India's industrial output fell at the fastest pace in over six years in September, adding to a series of weak indicators that suggests the country's economic slowdown is deep-rooted and interest rate cuts alone may not be enough to revive growth. The NSE Nifty 50 index closed down about 0.6% at 11,840.45, while the benchmark BSE Sensex also finished 0.6% lower at 40,099.23. Shares of India's Britannia Industries ended up 4.81% as it posted a higher consolidated net profit for the September quarter on Monday and was the top gainer on Nifty.
- Investing.com
Dollar Consolidates After Hitting 3-Week High on Trade Hopes
Investing.com -- The dollar was consolidating in early trade in Friday after surging to a three-week high on Thursday in response to growing confidence that the economically damaging tariffs enacted by the U.S. and China on each other’s products will be reversed.
- Reuters
Slowing Indian economy spells tough times ahead for the rupee: Reuters poll
A slowing domestic economy will prevent India's rupee from recouping this year's losses against the dollar in 2020, with optimism around an easing in the U.S.-China trade dispute not enough to give it a further boost, a Reuters poll showed. After falling nearly 9% in 2018, the Indian currency has shed another 4% this year to touch a 2019 trough of 72.40 per dollar on Sept 3. A barrage of rate cuts from the Reserve Bank of India this year - five reductions in succession for a total of 135 basis points off the repo rate, now at 5.15% - has done nothing concrete so far to revive a slowing Indian economy.
- Reuters
Burger King's India unit looks to raise 4 billion rupees in IPO
The Indian arm of U.S.-based Burger King filed for a local initial public offering (IPO) to raise up to 4 billion rupees ($56.6 million) on Monday, as it looks to open more restaurants in a country where international fast-food brands are gaining in popularity. The Whopper Burger maker, which launched its first restaurant in India in 2014, competes directly with market leader McDonald's Corp and other restaurant chains such as Domino's Pizza. Burger King India Ltd plans to have 325 stores by December 31, 2020, up from 202 as of June.
- Reuters
EM ASIA FX-S Korean won leads broad-based gains; Indian rupee firmer
* Won hits strongest level in more than 4 months * Taiwanese dollar appreciates to an over 16-month high * Yuan hits firmest point in more than two-and-a-half months (Adds text, updates prices) By Aby Jose Koilparambil Nov 4 (Reuters) - Asian currencies strengthened on Monday, with the South Korean won leading the gains, as growing optimism over a potential Sino-U.S. trade deal and upbeat U.S. jobs data whetted investors' risk appetite. There were comparatively significant gains in the Indian rupee and the Chinese yuan as well, advancing up to 0.4% and 0.2%, respectively.
- Simply Wall St.
Who Has Been Buying ioneer Ltd (ASX:INR) Shares?
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On...
- Zacks
Why The Indian Rupee ETN Has Soared Over 125% in 2019
INR is structured as an ETN, which is trading significantly above its NAV.
- Reuters
Asian currencies advance; rupee surges on India tax cuts
The Indian rupee rose as much as 0.9% to its strongest since Aug. 9, while stocks in the country looked set for their best day in more than a decade, after Nirmala Sitharaman lowered the effective corporate tax rate and scrapped the minimum alternative tax for domestic companies. While markets "have reacted positively to FM's announcement, there are concerns over deteriorating fiscal situation", cautioned Rushabh Maru, currency and commodity analyst with Anand Rathi Shares and Stock Brokers.
- Reuters
Firm rupee lifts Indian rice rates; Vietnam prices hold near 12-year low
Indian rice export prices rose this week on a resurgent rupee, while sluggish demand kept Vietnamese rates near a 12-year low even as the country looks to encourage private investment to make its rice more competitive. Top exporter India's 5% broken parboiled variety rose to around $373-$379 per tonne from $370-$376 a week ago, despite faltering demand from African countries. Buying from west African countries, especially from key buyer Benin, has been faltering, said Nitin Gupta, vice president for Olam India's rice business.
- TechCrunch
Apple TV+ will cost $5.99 in Canada, £4.99 in the UK and INR 99 in India
At its big press event yesterday, Apple announced that its TV+ streaming service would cost $4.99 per month and a launch date on November 1. The Streamable has rounded up TV+ pricing in different countries — and you can verify the number yourself by checking out the country-specific versions of Apple's announcement. The service will cost $5.99 CAD ($4.54 US) in Canada, £4.99 ($6.15) in the United Kingdom, 4.99€ ($5.50) in the rest of Europe, A$7.99 ($5.48) in Australia, 600 JPY ($5.57) in Japan and INR 99 ($1.38) in India.
- Reuters
Indian rupee unlikely to gain traction as investors stay shy: Reuters poll
The Indian rupee will not regain ground lost against the dollar in the coming year, according to strategists polled by Reuters, who believe a recent rollback of a surcharge on foreign investments will have no impact on the currency. After gaining about 2% following a sweeping victory in the general election by the incumbent government late in May, the rupee has lost nearly 6% since a July 5 budget when a surcharge on foreign investments was introduced. The Aug 29-Sept 4 Reuters poll of over 50 strategists predicted the currency will trade around 72 per dollar over the coming year.
- Reuters
Most Asian units slip as trade tensions weigh; Indian rupee falls most
Late on Monday, Bloomberg News reported that Chinese and U.S. officials are struggling to agree on a schedule for a round of trade negotiations that were expected this month. "Such headlines lay bare the tremendous gulf between the U.S. and China in reconciling their differences over trade, leaving the global economy hanging in the balance," Han Tan, Market Analyst at Cyprus-based brokerage FXTM said. The Indian rupee and the Malaysian ringgit were the worst performers in the region, playing catch up with peers as both markets re-opened for trade after a holiday on Monday.
- Reuters
Most Asian currencies slip on recession spectre, oil hits Indian rupee
Global bond yields clung near record lows, while the inverse U.S. yield curve, in which long-date yields are lower than their short-dated counterparts, stoked fears of a future recession. Bets on safe haven assets picked up, with gold prices surging to near six-year highs, while the Japanese yen traded 0.2% higher. "Beyond adjusting to tariffs, the CNY is also reacting to the generalised slowdown in global activities, which is usually negative for EM currencies, as well as weaker domestic growth," analysts at Societe Generale wrote in a note.
- Reuters
India bonds at three-week high, rupee gains after RBI payout to government
Indian bonds edged up to their highest in three weeks while the rupee rose after the Reserve Bank of India (RBI) approved the transfer of a much higher-than-expected dividend to the government, soothing concerns of fiscal slippage. Finance Minister Nirmala Sitharaman proposed on Friday a series of measures to help the economy and financial markets although some economists said there was a need for an additional stimulus package. The measures announced so far and others in the pipeline have raised fears the government would expand its fiscal deficit from the targetted 3.3% of gross domestic product, which could lead to an increase in market borrowing.
- Reuters
Rupee slide pushes India rice rates to 7-week low, Vietnamese exports dip
A depreciating rupee pushed export prices of rice from India to their lowest in seven weeks on Thursday despite healthy demand from African countries, while lower purchases from Philippines weighed on rates for the Vietnamese grain. Top exporter India's 5 percent broken parboiled variety was quoted around $372-$375 per tonne this week, down from $374-$377 a week ago. "A falling rupee has been allowing us to lower export prices.
- Reuters
Rupee forecast to bounce back from recent drubbing: Reuters poll
India's rupee will recoup this year's losses against the dollar over the coming 12 months, according to market strategists polled by Reuters, who said the issuance of sovereign bonds in foreign currencies may help prop it up. Rising political risk after India revoked the special status of Kashmir - the Himalayan region that has long been a flashpoint in relations with Pakistan - knocked the rupee on Tuesday, pushing it to a 5-month low of near 71 per dollar. Emerging market currencies tumbled on Monday following an escalation in the U.S.-China trade war, with the Chinese authorities allowing the yuan to weaken to above 7 per dollar for the first time in over a decade.
