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Rupee drops 19 paise to 85.63 against US dollar in early trade

Mumbai, Apr 7 (PTI) The rupee declined 19 paise to 85.63 against the US dollar in early trade on Monday, facing the heat of the global trade war triggered by the US reciprocal tariff and China’s retaliatory move that also crashed equity markets worldwide to their record lows. According to forex traders, a steep decline in crude prices and a weaker American currency failed to support the domestic currency amid the incessant foreign fun outflows in line with the global sell-offs. Meanwhile, they said that market participants remained concerned as the Reserve Bank of India’s monetary policy committee began its

Indian shares open sharply lower on global trade war, US recession fears

April 7 (Reuters) – Indian shares opened sharply lower on Monday, as concerns over a global trade war and growing recession fears in the U.S. triggered a stock market rout on Wall Street and in other Asian markets. The Nifty 50 and the BSE Sensex trimmed some losses from the pre-open trade, declining 3.84% to 22,030.25 and 3.72% to 72,600.53, respectively, as of 09:17 a.m. IST. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. All 13 major sectors logged losses. IT companies, which earn a significant share of

RBI to issue Rs 10, Rs 500 notes bearing signature of Governor Malhotra

Mumbai, Apr 4 (PTI) The RBI (Reserve Bank of India) on Friday said it will shortly issue Rs 10 and Rs 500 denomination banknotes in Mahatma Gandhi (New) Series, bearing the signature of Governor Sanjay Malhotra. The design of these notes is similar in all respects to Rs 10 and Rs 500 banknotes in Mahatma Gandhi (New) Series, the central bank said in a statement. All banknotes in the denomination of Rs 10 issued by the Reserve Bank in the past will continue to be legal tender. Also, all banknotes in the denomination of Rs 500 in Mahatma Gandhi (New)

27pc tariff on Indian rice temporary hurdle, say exporters

Kolkata, Apr 4 (PTI) Indian rice exporters are adopting a wait-and-watch approach following United States’ decision to impose 27 per cent tariff on imports, though industry leaders say the long-term impact may be limited due to India’s inherent competitiveness. “While there may be short-term price fluctuations, the market is expected to stabilise within the next two to three months. The 27 per cent tariff is a temporary hurdle, not a roadblock. With strategic planning and flexibility, we cannot only protect, but also expand our footprint in the US market,” Prem Garg, national president of the Indian Rice Exporters Federation (IREF),

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