Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Rupee Continues to Plunge

Rupee Continues to Plunge

Due to the high dollar value, crude oil prices and increasing global trade tensions, the Indian rupee market is going through a tough time.

Recently, in the wake of a confluence of dollar-supportive events, RBI and its peers in other emerging economies have been forced to defend their currencies.

According to traders, the RBI wasn’t seen actively intervening in the foreign exchange markets as it did on last week.

Value of bonds rose to a new high value of 8.12 percent since Nov. 2014.  The rise in crude oil prices worldwide is the primary cause of the inflation concerns.

On Monday, the value of rupee shot up to 72.4450/dollar.                    

For both rupee and bonds, the rise in oil prices is the main cause of spoilers.  India’s two-third crude oil production is sent outside the country and any price fluctuation in the global market whether it’s high or low impacts everything from high dollar demand by importers but also raises inflation concerns back home.

The policy repo rate has been raised by a total of 50 basis points by RBI two successive meetings. And the main goal behind this is to control inflation to 4 percent in the medium term. In a span of one year, consumer inflation rose to 4.17 percent and is expected to pick up momentum on higher crude prices and the weakening rupee.


Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...