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July 8, 2021 The Covid-19 pandemic has thrown the Indian economy into an unprecedented recession. Hundreds of small businesses have shuttered, unemployment is on the rise, and household incomes are dwindling. But despite this upheaval, the Indian currency has remained surprisingly stable. On July 7, the Indian rupee was valued at 74.62 to the dollar as compared to 75.66 in the last week of March 2020 when the pandemic first reached the country’s shores. Experts believe that a combination of global and domestic factors has helped the rupee to remain strong, and most of the reasons are linked to the positive long-term outlook on India. “People digested the fact that lockdown would lead to a contraction in the economy very quickly. They focused on how fast the economy was pulling out of it,” Abheek Barua, chief economist of HDFC Bank said. “So the rupee outperformed its Asian emerging market peers.” ....
The RBI on Friday held the repo rate, its key lending rate, at four per centand kept the reverse repo rate, the borrowing rate, unchanged at 3.35 per cent. ....
BENGALURU India’s main stock index will exceed the record high it hit before the latest coronavirus wave took hold by year-end, according to a Reuters poll… ....
Read more about Indian stock index to nudge past February s record high by year-end on Business Standard. India s main stock index will exceed the record high it hit before the latest coronavirus wave took hold by year-end, according to a Reuters poll of analysts, most whom predicted modest growth ....
Sensex to nudge past February s record high by year-end: Poll Sensex to nudge past February s record high by year-end: Poll A recently conducted poll has indicated that BSE Sensex will nudge past February s record high by the end of the year. The poll of more than 30 equity analysts saw the Sensex index adding another 5 per cent and hitting a record 53,200 by the end of the year. advertisement UPDATED: May 27, 2021 10:15 IST BSE Sensex is likely to cross 53,000 by the end of the year. (Photo: Reuters) India s main stock index will exceed the record high it hit before the latest coronavirus wave took hold by year-end, according to a Reuters poll of analysts, most of whom predicted modest growth and limited downside risks. ....