Currencies

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...

(This Feb. 4 story has been refiled to reflect the day's closing report)By Stephen CulpNEW YORK (Reuters) - U.S. stocks rallied on Tuesday, while gold reached new highs as global trade jitters kept investors guessing.All three major U.S. stock indexes gained momentum after last-minute negotiations resulted in one-month reprieves on President Donald Trump's 25% levies against Canada and Mexico.But safe-haven investors continued to favor gold after a 10% tariff against China went into effect. That tariff prompted Beijing to announce its own retaliatory tariffs against U.S. energy exports and expand...

The dollar index — which measures the value of the greenback against several major global currencies — spiked 1.11% to 109.58, pressuring the currencies in the region. The Chinese offshore yuan dropped 0.36% to 7.347. The Indian rupee fell to a record low of 87.101 against the dollar. Asian currencies weakened sharply Monday as the U.S. Dollar rallied after U.S. President Donald Trump slapped tariffs on several countries over the weekend. The dollar index — which measures the value of the greenback against several major global currencies — spiked 1.11%...