By Jaspreet Kalra MUMBAI (Reuters) -The Indian rupee is poised to weaken past the psychologically important 87-per-dollar level on Wednesday after U.S. President Donald Trump pointed to a likely 20%-25% tariff on Indian exports to the U.S., compounding pressure from sustained portfolio outflows. The 1-month non-deliverable forward indicated the rupee will open in the 87.11-87.13…
By Siddhi Nayak MUMBAI (Reuters) -India’s IndusInd Bank has shortlisted three senior bankers – Rajiv Anand, Rahul Shukla, and Anup Saha – for the position of CEO and submitted their names to the central bank for approval, two sources told Reuters. IndusInd Bank took a $230 million hit in the year ended March 31 due…
If the United States and China – the world’s two largest economies – are heading into a major slowdown, the impact on India will be far more severe than anything the current tariff war might bring, Swaminathan Aiyar, , economist and consulting editor at ET Now, has warned. “If there is going to be a…
Millions of small investors have piled into India’s stock market in recent years, eager to build wealth by betting on the country’s economic growth. Catchy advertising and easy-to-open online trading accounts have wooed young people and retirees alike, demystifying investing and fueling the exuberance. This week, many of those investors got a rude shock —…
Even the most pessimistic economic forecasters did not anticipate the sharp downturn in economic momentum reflected in the Gross Domestic Product (GDP) estimates for the July-September quarter. From a five-quarter low of 6.7% in the first quarter (Q1), most independent economists expected GDP growth of 6.5% in Q2, citing slackening urban demand indicators such as…
A hiccup in India’s world-beating economic growth may exacerbate near-term weakness in stocks, according to strategists. The economy expanded at the slowest pace in almost two years in the September quarter, data Friday showed. Market participants expect a pickup in growth in the second half of the fiscal year, especially if the Reserve Bank of…
By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – A three-month rally in dollar-rupee forward premiums is expected to push on amid wagers of another outsized rate cut in the United States while India’s central bank moves cautiously on monetary easing, six bankers said. The dollar/rupee 1-year implied yield rose for the sixth straight session…