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RBI may cut interest rate by 25 bps on Friday, say experts

Mumbai, Feb 3 (PTI) The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank’s comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at

Rupee falls 55 paise to breach 87 level against USD as Trump tariff triggers trade war fears

Mumbai, Feb 3 (PTI) The rupee plunged 55 paise to close at an all-time low of 87.17 (provisional) against the US dollar on Monday, as global market sentiments were impacted after the Trump administration slapped tariffs on Canada, Mexico and China. Forex traders said the Indian rupee touched a fresh all-time low on a surge in the US Dollar index and weak global markets after Trump Tariffs on Canada Mexico, and China triggered fears of a broad trade war. Donald Trump slapped Canada and Mexico with 25 per cent duties and China with a 10 per cent duty. At the

Indian shares tumble as trade war shockwaves reach Mumbai

Feb 3 (Reuters) – Indian shares dropped on Monday after U.S. President Donald Trump imposed sweeping tariffs on Canada, Mexico and China, spurring concerns of a broader trade war. The Nifty 50 was down 0.52% at 23,361.05, while the BSE Sensex shed 0.41% to 77,186.74. Asian and European stock markets slumped as Trump’s tariffs triggered fears of a hit to global growth. Ten of the 13 major domestic equity sectors declined on the day, while the domestically focussed smallcaps and midcaps lost 2.1% and 0.9%, respectively. The Indian rupee weakened past 87 per U.S. dollar for the first time as

Rupee plunges 67 paise to hit all-time record low of 87.29 against US dollar in early trade

Mumbai, Feb 3 (PTI) The rupee depreciated 67 paise to hit record low of 87.29 against the US dollar in early trade on Monday after Trump Tariffs on Canada Mexico and China triggered fears of a broad trade war. Donald Trump slapped Canada and Mexico with 25 per cent duties and China with a 10 per cent duty, The move was the first strike in what could usher a destructive global trade war, forex traders said. The rupee continued to face pressure due to sustained foreign fund outflows and the broad strength of the American currency in the overseas markets

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