Currencies

Finance Minister Nirmala Sitharaman rejected concerns over the recent depreciation of the Indian rupee, stating that the currency has remained stable against most global counterparts despite pressure from a strengthening US dollar.CompanyValueChange%ChangeIn an interview with PTI, Sitharaman acknowledged the rupee’s nearly 3% decline against the dollar in recent months, calling it a concern due to its impact on import costs. However, she dismissed claims of broader weakness in the local currency."I am concerned, but I will not accept the criticism that 'Oh, the rupee is weakening!' Our macroeconomic fundamentals are...

Paraphrasing Abraham Lincoln, Union Finance Minister Nirmala Sitharaman on Sunday (February 2, 2025) described the Union Budget as “by the people, for the people, of the people”, and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for middle class but it took time to convince the bureaucrats.“We have heard the voice of the middle class” who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.With the honest and proud taxpayers wanting the government to do...

Finance Minister Nirmala Sitharaman on Sunday rejected criticism over the slide of the Indian rupee, saying it has depreciated only against a strengthening US dollar but remained stable against all other currencies because of the strong macroeconomic fundamentals. In an interview with PTI, she said a 3 per cent depreciation in the rupee against the US dollar in past few months is a matter of concern as it makes imports costlier, but she rejected criticism that the local currency has seen all-round weakness. "I am concerned but I will not...

The Indian rupee has breached an all-time low of 86 against the US dollar. The rupee depreciated to 86.44 against the US dollar in early trade on January 27, 2025, due to the strength of the American currency and a sluggish domestic equities trend. Over the last year, the INR has depreciated by nearly 3.5% against the US Dollar, with much of the strength in the dollar index coming in the last 3-4 months. While a depreciating Rupee hurts Indian consumers as India services a huge import bill, there is...

“India’s rapid economic growth, marked by the tag of the world’s fastest-growing major economy, has been a big factor for the country attracting investments from all over the world,” says Harsh Gahlaut, Co-founder & CEO, FinEdge.In an interview with ETMarkets, Gahlaut said: “A growing economy translates into higher stock market valuation and hence the long-term prospects of the stock markets remain upbeat in line with these growth projections,” Edited excerpts:Q) What factors should Indian investors consider before diversifying their portfolio into global markets in 2025?A) The global markets have been...