Indian rupee

March 13, 2025 9:13 AM

PM Modi and Mauritius counterpart Ramgoolam agree to facilitate trade settlements in local currencies

Prime Minister Narendra Modi and his Mauritius counterpart Navinchandra Ramgoolam have agreed to facilitate trade settlements in local currencies, viz Indian Rupee and Mauritian Rupee. The two leaders also agreed to hold the second session of the High Power Joint Trade Committee under the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) to further strengthen trade, economic cooperation and partnership between the two nations. PM Modi was in Mauritius for a two-day State visi...

February 14, 2025 10:11 PM

India’s forex reserves rise for third consecutive week, reach $638.26 billion

India's foreign exchange reserves continued their upward trend for the third consecutive week, reversing a months-long decline, according to data released by the Reserve Bank of India (RBI) on Friday. For the week ending February 7, the country’s forex reserves rose by $7.65 billion to $638.261 billion. This recovery follows a sharp slump that saw reserves fall in 15 of the previous 16 weeks, reaching an 11-month low. India’s reserves had been steadily declining since hitting an all-time h...

December 26, 2024 11:34 AM

Indian Rupee to remain in pressure amid weak manufacturing exports; policy rate differential with US: report

The Indian rupee (INR) is expected to come under pressure in 2025 due to a combination of global and domestic challenges, according to a report by Standard Chartered Bank. Key factors identified in the report include slowing foreign direct investment (FDI) inflows, weak manufacturing export growth amid declining global demand, and a narrowing policy rate differential with the United States. These elements are likely to exert downward pressure on the Indian currency. The report projects the rup...