FOREX NEWS

Headlines:

Indian stocks edge higher in lackluster trade; ITC up 3%

Centre exempts tax for interest income on select off-shore rupee denominated bonds  -   18/09/2018 12:04
I nterest payable by an Indian company or a business trust to a non-resident, including a foreign company, in respect of rupee denominated bond issued outside India before the 1stof July, 2020 is liable for concessional rate of tax of Five Percent, Ministry of Finance notified on Monday. Consequently, Section 194LC of the Income-tax Act, 1961 (the Act) provides for the deduction of tax at a lower rate of...
IMF estimates 'real' depreciation of Indian rupees as 6 to 7%  -   18/09/2018 09:25
C ompared to December 2017, the real effective depreciation of Indian rupees is between six and seven percent, says an IMF estimate. Broadly since the beginning of the year, Indian rupee has lost about 11 percent of its value in nominal terms vis a vis the US dollar", said IMF spokesperson Gerry Rice, responding to a question on the fall of the Indian currency in the last few months. He, however, said...
Rupee strengthens by 50 paise against dollar as CPI inflation eases  -   14/09/2018 12:36
T he Indian rupee was trading strongly against the US dollar on Friday amid sustained selling of greenback by exporters and banks, while decline in retail inflation also boosted local currency movement. Consumer price inflation slows to a 10-month low of 3.69 per cent in August, below the RBI’s 4% medium-term target, raising hopes that the central bank will keep interest rates on hold in its next polic...
Rupee recovers against dollar as govt mulls steps to rescue the currency  -   12/09/2018 16:26
T he Indian rupee recovered strongly against the US dollar on Wednesday due to the selling of American currency by exporters and banks. The Indian currency strengthened against the greenback amid reports that Prime Minister Modi will be holding a meeting over the weekend to review the economic situation and the rupee condition as well. The government will issue consumer price inflation for August and inde...
Rupee plunges to yet another record low of 71.10 vs USD  -   03/09/2018 17:22
T he Indian rupee nosedived to a new life-time low of 71.10, shedding 10 paise against the US dollar in late afternoon trade on Monday, tracking weakening trend in emerging market currencies. A surge in global oil prices, concerns over US-China trade war and contagion risks from Turkey and Argentina are the factors impacting forex market sentiment. Brent crude oil moved up by 0.57 per cent 78.08 a barr...
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