Free Press Journal
  • BJP can’t afford not to relent on oil prices

    The crisis on the oil front is unmistakably serious but there are redeeming features which make it look less serious than it did in 1991 when foreign exchange reserves were sufficient for only a few weeks’ imports and in 2008 in the wake of the Lehman Brothers’ collapse and the global financial crisis.

  • Rupee recovers 10 paise against US dollar in early trade

    Mumbai: After a weak start, the rupee Tuesday recovered 10 paise to 72.41 against the US dollar amid volatility in early trade on fresh selling of the US currency by exporters and banks. The rupee, after opening lower at 72.65 against the US dollar, quickly recovered to trade 10 paise higher at 72.41 at the Interbank Foreign Exchange.

  • Falling rupee, soaring oil prices & rising worries

    It’s been a waterfall like slide for the rupee against the US dollar over the past few months. Last week, the rupee crashed below the 72-mark to end at a life low of 72.69 against the US dollar on growing fears of a rebound in oil prices and escalation of global trade war. The domestic currency’s previous all-time closing low was 68.73, touched on November 24, 2016.  Earlier in June, when the

  • Rupee again breaches 72-mark, down 81 paise in early trade

    Mumbai: The rupee depreciated 81 paise to 72.65 against the dollar in early trade Monday at the forex market, despite the government’s steps to stem a steep fall in the currency, amid reports that the US could announce a new round of tariffs on Chinese imports later in the day.

  • Grapple with the rupee & oil but don’t panic

    The big news this week was on two key prices. One is the price of the almighty dollar, and the other is the price of petrol (or diesel). These two are the most important price signals in the economy.  And both are of imported items. India has a huge shortage of oil since domestic supplies meet barely one fifth of our requirement. We also have a perennial shortage of dollars, because what

  • Rupee recovers on hopes of policy intervention

    Mumbai : The rupee on Friday surged by another 34 paise to close at a one-week high of 71.84 against the US dollar on positive macro data and hopes of policy intervention by the government to defend the volatile currency.

  • Rupee recovers 19 paise from record low of 72.91 against dollar

    Mumbai: The Indian rupee recovered from the day’s low to trade around 72.50 per dollar during the afternoon session on Wednesday. Around 1.45 p.m., the rupee traded at 72.50 per dollar, appreciating by 19 paise from its previous close of 72.69 per greenback.

  • Rupee sinks to new low of 72.91, drops 22 paise against US dollar

    Mumbai: The rupee Wednesday collapsed to a lifetime low of 72.91 against the dollar at the interbank foreign exchange market. The domestic currency was quoting 22 paise lower at a fresh record low of 72.91 against the US dollar in morning trade amid surging crude oil prices and uanabated foreign fund outflows.

  • Rupee recovers 15 paise against US dollar in early trade

    Mumbai: The rupee Tuesday opened on a positive note by inching 15 paise higher at 72.30 against the US dollar amid increased selling by banks and exporters. Besides, dollar’s weakness against some currencies overseas including the euro also supported the rupee, dealers said. The rupee on Monday slumped to new record low of 72.67 a dollar in intra-day trade before closing at 72.45, showing a steep 72 paise fall on growing fears of

  • Rupee hits lifetime low of 72.18, drops 45 paise against US dollar

    Mumbai: The rupee on Monday slumped to a fresh record low of 72.18 by falling 45 paise against the US dollar on strong demand for the US currency from importers as the greenback strengthened against other currencies overseas on upbeat jobs data.

  • Fuel Price Hike: Petrol price hiked again by 23 paise a litre, diesel by 22 paise

    Fuel prices set new records on Monday as Petrol price was raised 23 paise a litre and diesel by 22 paise per litre. Petrol and diesel prices have continued their upward march on fall in rupee and surge in global crude oil rates. On Monday, the increase pushed the petrol price in Mumbai to Rs 88.12 per litre and diesel rate touched its highest level of Rs 77.32 a litre. In Delhi, petrol

  • Why rupee is sliding?

    The rupee has declined from Rs 64 to a dollar a year ago to Rs 71 presently and is expected to decline further in the coming months. The core reason for this decline is the loss of competitiveness of the Indian economy. Let us say a particular toy is being manufactured in the United States for US $1. The same toy is being manufactured in India for Rs 71. Then the exchange

  • India may have to cough up Rs 685 billion more to repay debt

    Mumbai: The BJP government’s worries have begun to mount: On the one hand, it has slipped badly on the oil slick; on the other hand, the rupee is sliding into a deep abyss. But oil isn’t the only headache for India as the rupee slides, says wire agency Bloomberg. You can add external debt to the list.

  • Rupee recovers from all-time low, up 20 paise against US dollar      

    Mumbai: The rupee recovered from its all-time low of 71.58 and strengthened by 20 paise to 71.38 against the US dollar in opening trade at the interbank foreign exchange market Wednesday on fresh foreign capital inflows. The domestic currency had lost 37 paise to end at a fresh lifetime low of 71.58 against the resurgent dollar Tuesday as persistent trade worries and macro concerns continued to proliferate.

  • Rupee hits new all-time low of 71.37, drops 16 paise against US dollar

    Mumbai: The rupee Tuesday slumped 16 paise against the dollar to trade at a life-time low of 71.37 on strong demand for the US currency. At the Interbank Foreign Exchange, the local currency opened at a record low of 71.24 against a dollar, down from its previous close of 71.21, and weakened further to trade at a fresh low of 71.37, down 16 paise.

  • Rupee slide is big worry

    A two rupee fall in its exchange value with the US$ — say, from Rs 69 to Rs 71 for a $ — may cost the country an additional external payment burden of nearly Rs 1,50,000 crore, in Rupee terms, on account of this year’s total import alone on a cost, insurance and freight (CIF) basis. Going by the current trend, India’s import during 2018-19 is expected to top the US$500 billion

  • petrol price hike, petrol price, K R Sudhaman, GDP, economy

    Petrol, diesel prices at highest-ever levels after fall in rupee

    New Delhi: Petrol and diesel prices in the country touched their highest levels Monday mainly due to dramatic fall in rupee and a sharp rise in crude oil rates. Petrol price in Delhi rose to a record Rs 79.15 a litre and diesel climbed to a fresh high of Rs 71.15, according to price notification of state-owned fuel retailers.