INDIA RUPEE
Market, rupee fortunes may prove fickle amid Iran flareup
Markets brace for renewed turmoil as Iran closes the Strait of Hormuz, sending oil prices soaring. This sharp reversal follows Friday's optimism after the maritime channel's opening. Stocks and the rupee face challenges, with the rupee expected to weaken against the dollar due to rising crude prices.
Protest erupts in Nepal against taxation on imports above 100 rupees from India
Protests have erupted in Birgunj, Nepal, against a new government directive taxing all imports from India exceeding NRS 100. This strict enforcement, aimed at curbing revenue leakage and supporting local markets, has led to widespread crackdowns at border points and significant dissatisfaction among residents who rely on cross-border purchases for daily essentials.
Every rupee saved in supply chain costs goes back to customers: Zepto's Aadit Palicha at YC Startup School
Zepto aims to be India's top grocery delivery platform in the next four to five years. Cofounder Aadit Palicha believes this success could position Zepto as India's own Amazon. The company is preparing for a significant IPO, engaging with investors. Palicha highlighted the importance of early focus and operational efficiency in their growth strategy.
Rupee depreciation forces Indian firms to adopt Yuan payments, boost local sourcing
Indian businesses are actively seeking ways to counter the weakening rupee. Companies are now making payments for Chinese imports in yuan, aiming for better supplier prices. Simultaneously, there is a strong push towards sourcing more goods locally. This strategy helps reduce dependence on imported items and manage rising costs. These efforts are crucial for businesses facing currency pressures.
RBI’s oil forex window set to fuel rupee recovery
The Reserve Bank of India has opened a special foreign exchange window to supply dollars to state-run refiners, easing pressure on the rupee. This move, likely routed through state-run lenders, aims to reduce the significant daily dollar demand from oil companies. Analysts expect this intervention to lead to rupee appreciation.
India's forex reserves up $3.83 billion to reclaim $700 bln mark
India's foreign exchange reserves surged by $3.83 billion to $700.946 billion in the week ending April 10. This increase was primarily driven by a rise in foreign currency assets and gold reserves. Special Drawing Rights and India's reserve position with the IMF also saw modest gains.
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Rupee ends stronger, trims underperformance versus Asia FX on RBI measures
The Indian rupee rose on Friday following a Reuters report of a central bank step to curb state-run oil companies' dollar demand, adding to measures that have narrowed the currency's underperformance over the last fortnight.
Kalyan Jewellers, Titan, and other jewellery stocks tumble up to 6% while MMTC rallies 16%. Here's why
Indian banks have reportedly halted gold and silver import orders, causing jewellery stocks like Kalyan Jewellers and Titan to fall. MMTC, however, surged on market rumors of being permitted to import gold. This situation has led to significant amounts of precious metals stuck at customs, awaiting a formal government order, potentially impacting supply ahead of Akshaya Tritiya.
India's first maritime-focused lender eyes $1 bln FY27 fundraise
Sagarmala Finance Corp. will raise 100 billion rupees in FY27. This funding will support ports, shipbuilding, and waterways. The company will borrow through bonds, term loans, and foreign currency. Sagarmala aims to disburse up to 90 billion rupees in loans by March 2027. It also seeks government equity infusion to support its growth.
FIIs grow more wary of India as FX curbs hit bonds, earnings risks haunt equities
Foreign investors face higher costs and complexity hedging against rupee swings due to India's forex rules. This, coupled with war-related earnings concerns, is impacting Indian bonds and equities. Overseas investors have sold Indian government debt and shares. Lingering currency stability worries and high oil prices are dampening sentiment.
GIFT Nifty hints at positive start; here's trading setup for the day
Indian equities closed lower amid weekly expiry volatility, with support seen at 23,450-23,100 and resistance at 24,400. Global markets showed mixed signals, with US stocks inching higher on ceasefire hopes. The Indian rupee strengthened, while Brent crude prices dipped.
RBI asks state oil refiners to curb spot dollar buying, sources say
India's central bank is taking action to support the rupee. State-run oil refiners are being asked to use a special credit line for dollar needs instead of buying on the spot market. This move aims to reduce pressure on the Indian currency. The Reserve Bank of India is employing measures similar to those used during the Ukraine war.
Indian bonds seen rising on optimism over US-Iran peace deal
Indian government bonds are expected to extend gains in early deals on Thursday, as oil prices remain steady and market sentiment improves amid growing optimism over a U.S.-Iran peace deal.
EXIM Bank says repayments unaffected by West Asia conflict
EXIM Bank of India reports no impact on client repayments from the Middle East conflict. Indian companies in the region, primarily in construction, may see business affected. While current repayments are strong, prolonged conflict could pose challenges. Project awards and execution timelines might be impacted. However, reconstruction efforts could bring future opportunities. Rupee depreciation benefits EXIM Bank's balance sheet.
Rupee edges higher as optimism over Iran peace deal firms
The Indian rupee closed slightly stronger on Thursday on growing optimism over a potential deal to end the Iran war, which kept oil prices below $100 a barrel and lifted global equities to record highs.
Volatility expectations, hedging costs ease as Mideast hopes bolster RBI's rupee steps
Positive developments in U.S.-Iran peace talks and the Reserve Bank of India's recent measures are easing pressure on the Indian rupee. Hedging costs and volatility expectations have significantly dropped, indicating reduced market anxiety. While the rupee has recovered from its recent low, sustained improvement hinges on trade and investment flows amidst a widening current account deficit and capital flow weakness.
Indian bonds retreat after previous rally; focus on debt sale, US-Iran peace talks
Indian bonds eased after recent gains as upcoming debt auctions and evolving US-Iran peace talks kept investors cautious, leading to a rise in yields.
Indian officials see Iran war oil shock as disruptive as Covid
India is drawing on its Covid-era playbook to cushion the economic blow from the Iran war, with officials warning the disruption to energy supplies could rival the pandemic, threatening growth, widening the fiscal deficit, and pushing the rupee to record lows.
India Inc reduced overseas bond issues on local liquidity, rupee fall
Indian companies scaled back overseas bond issuances as improved domestic liquidity and a weaker rupee made local fundraising more attractive.
Indian rupee ends flat as importer dollar bids wipe boost from oil retreat
The Indian rupee closed nearly unchanged on Wednesday, wedged between comfort from a decline in crude oil prices and persistent dollar demand from local importers, including oil marketing companies.
India gem and jewellery exports rise to ₹2.44 lakh crore in FY26 amid global headwinds
In FY26, India's gem and jewellery sector reported an impressive ₹2,44,827.26 crore in exports, demonstrating a modest growth in rupee terms. However, exports in dollar value experienced a downturn amidst global market turbulence. To counter this, exporters expanded their reach, finding new opportunities in the UAE, Australia, and Canada.
India's 30-year economic model is over; time to pivot from IT to manufacturing: Saurabh Mukherjea
Saurabh Mukherjea believes India's long-standing economic model is concluding. He anticipates rising inflation and a weakening rupee impacting consumer spending. Interest rate hikes are also expected, posing challenges for lenders. The focus is shifting towards manufacturing exports, benefiting from global trends. This transition presents new investment opportunities in specific export-oriented sectors.
Sebi makes it easier for firms to cut IPO size after Iran war hits sentiment, email shows
Securities and Exchange Board of India has eased norms allowing firms to reduce IPO sizes amid weak market sentiment triggered by the Iran conflict, giving issuers flexibility to navigate volatility and investor caution.
Indian rupee gains, hedging costs dip as oil price cool-off offers relief
A drop in oil prices boosted the rupee and reduced hedging costs, easing pressure on importers and improving currency sentiment.
India bonds trim losses as soft CPI spurs value buying
Indian government bonds trimmed most of their losses on Monday, as softer-than-expected inflation data drew in late-session buyers, tempering concerns over price pressures following oil's surge after the collapse of the U.S.-Iran peace talks.
Rupee falls most in two weeks as oil spikes on US move to blockade Iran ports
The Indian rupee endured its steepest fall in two weeks on Monday, as oil prices climbed past $100 per barrel, while supportive dollar flows for the currency, spurred by banks' unwinding of arbitrage positions, dissipated.
India bonds slump after US-Iran peace talks falter
Indian government bonds experienced a significant downturn Monday as failed U.S.-Iran peace talks sent oil prices soaring. This "risk-off" sentiment impacted the rupee and the Nifty 50, reflecting concerns over inflation and growth. Traders noted a reversal after Friday's bond purchases, anticipating a deal that didn't materialize. Investors now await March inflation data for further market direction.
Global banks play hedge card after RBI blow on rupee bets
Foreign banks are reportedly reclassifying arbitrage deals, impacted by RBI's rupee speculation clampdown, as hedges for capital from overseas parents. This move aims to circumvent the $100 million net open position limit imposed by the regulator. The RBI may scrutinize these reclassifications based on timelines and documentation.
India will soon become self-reliant in defence sector, find itself among leading nations of the world: Rajnath Singh
India's defence production has reached a record 1.51 lakh crore rupees for 2024-25. Defence exports also hit an all-time high of 38,424 crore rupees in 2025-26. Defence Minister Rajnath Singh is confident India will soon be self-reliant and a global leader. Lucknow is now a Defence Node, manufacturing BrahMos missiles.
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