Exact(19)
Currencies like the rupee in India to the ruble in Russia have lost value.
A new work on the rupee, in contrast, has set few pulses racing.
The falling value of the rupee in recent times has had a slight, tangential, effect on the industry, NASSCOM officials said.
The Reserve Bank of India tightened policy sharply in mid-July in an effort to halt the fall of the rupee in currency markets.
Analysts say investors have bet heavily against the rupee in recent weeks after officials at the central bank, the Reserve Bank of India, suggested they would not intervene to limit the currency's slide.
The recent upgrade in India's outlook by Fitch Ratings will be a comforting factor, and the R.B.I. will try hard to get the rupee in order before pursuing its goal of easing interest rates to take the economy forward.
Similar(38)
Profits rose to 3.25 billion rupees ($70 million), from 1.78 billion rupees in the quarter a year ago.
Sales rose to 14.46 billion rupees in the quarter, from 13.48 billion rupees.
Investigators found an additional 12.21 billion rupees in loans raised by forging board resolutions; 7.48 billion rupees in illicit gains from the sale of shares; and 2.3 billion rupees in dividends received from inflated earnings, Mr. Narayana said.
In desperation, women are selling their 1,000 and 500 rupee notes cheap, accepting 800 rupees or 300 rupees in exchange.
The controversial assertion was calculated by capping monthly expenditures at 1,000 rupees in urban areas – about $16 — and 816 rupees in rural areas.
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