Rupee opens higher on drop in oil
By ranjanp at 5 August, 2008, 12:46 am
Mumbai - The rupee strengthened on Tuesday as global oil prices fell to near three-month lows, calming nerves about a widening trade deficit. Yesterday, the rupee had fallen by 14 paise to close at 42.40 against the dollar due to buying by banks and sluggish equity markets.
The rupee was at 42.28/29 per dollar, 0.5 percent [...]
State Bank of India expects RBI to Tighten Money
By arunr at 27 July, 2008, 9:00 pm
State Bank of India Chairman O P Bhatt today said he expects moderate monetary tightening in Reserve Bank of India’s quarterly review due next Tuesday. He indicated that the central bank could raise the cash reserve ratio, or the proportion of deposits that banks kept with RBI, by 25 basis points. [...]
Read More >>Rating Agency Fitch Lowers India to BBB-, Almost Junk Bond Rating
By arunr at 16 July, 2008, 8:46 pm
New Delhi — The sovereign debt of India is almost at junk bond levels. Fitch Ratings downgraded India’s local-currency debt outlook to negative from stable, while maintaining a BBB- grade, the lowest investment grade, one step above speculative — or junk — status. The move came close on the [...]
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