INR: Market Vectors Indian Rupee/USD ETN Instablogs

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Monday, June 17, 1:38 AM The Reserve Bank of India has kept its benchmark interest rate at 7.25%, a decision that comes against a background of falling inflation and stuttering growth, which had prompted speculation that the RBI may cut rates. (PR) Comment! [Breaking News, Global & FX, Top Stories]
Tuesday, June 11, 4:54 AM The Indian rupee (INR) hit a fresh record low of 59 to the dollar earlier today and is down by over 7% since the start of May. The currency has been hit by India's ballooning current-account deficit, the country's economic slowdown, and speculation about the tapering of the Fed's QE program. The rupee's weakness limits the central bank's options to cut interest rates when it meets next week. 1 Comment [Global & FX, On the Move]
Friday, May 31, 2:55 AM India's GDP growth slowed to its weakest in a decade in FY 2012 (ending in March 2013), coming in at 5%, while the expansion in FQ4 was even lower at 4.8%. Still that did meet consensus and was above the 4.7% in FQ3. The services sector grew strongly in FQ4, while manufacturing and farming also expanded, although mining declined an annual 3.1%. The BSE Sensex is -1%, while the rupee (ICN) is -0.2% vs the dollar. 1 Comment
Tuesday, April 30, 3:28 AM Investor sentiment towards India is improving, Citi says after meeting with over 40 institutional investors. Key drivers cited were a comfortable current-account deficit, declining inflation, and fiscal health. India is among the few large markets that would welcome equity market inflows; if the currency holds and the macro stabilizes, inflows could accelerate. (ETFs: INDY, EPI, PIN, INP, INDA, INXX, SCIF, SCIN, INDL, SMIN, ICN, INR) Comment! [Quick Ideas, Global & FX]
Tuesday, March 19, 3:04 AM As expected, the Reserve Bank of India has cut its benchmark interest rate to 7.5% from 7.75%, the second reduction this year, as it looks to boost faltering economic growth. The move comes despite consumer inflation of 10.9%. "Even as the policy stance emphasizes addressing the growth risks, the headroom for further monetary easing remains quite limited," the RBI said. (PR) Comment! [Global & FX, Top Stories]
Wednesday, February 13, 10:46 AM Guggenheim's CurrencyShares Singapore Dollar Trust (FXSG) is the 1st ETF tracking the Singapore dollar. The ETF holds foreign currency deposits rather than derivatives, rising when the U.S. dollar weakens relative to the Singapore dollar. FXSG comes with an expense ratio of 0.40% - standard for CurrencyShares ETFs, but cheaper than other currency ETFs UUP (0.50%), CEW (0.55%), INR (0.55%), BZF (0.45%), CNY (0.55%), ERO (0.40%) and ICI (0.65%). (pdf) Comment! [Global & FX]
Tuesday, December 18, 2012, 4:58 AM The Reserve Bank of India withstands political pressure to ease monetary policy and again leaves its lending rate unchanged at 8% and commercial banks' cash reserve ratio at 4.25%. Growth is slowing but high inflation is causing the RBI to maintain tight policies. "Rate cuts are contingent on inflation coming down, tangible progress on fiscal consolidation and continued structural reforms," says HSBC's Leif Eskesen. Comment! [Global & FX]
Thursday, July 5, 2012, 4:05 AM The Reserve Bank of India has spent billions of dollars trying to support the rupee, but it's still Asia's weakest-performing currency against the dollar over the past year (-19%). The rupee's decline is partly because of capital flight from emerging markets, but has been exacerbated by concerns over India's deteriorating financial health. 1 Comment [Global & FX]
Monday, June 25, 2012, 1:28 PM Trying to arrest a steep slide in the currency, India increases from $5B to $20B the amount of rupee-denominated debt overseas investors may own. This comes on top of the RBI's estimated $250M-300M dollar for rupee sale on Friday. The currency jumped higher in earlier action, but has since pared most of those gains. 1 Comment [Global & FX]
Thursday, June 21, 2012, 4:01 AM The rupee falls to a record low of 56.53 to the dollar. Traders are on watch for any potential intervention from the Reserve Bank of India to defend the currency. Comment! [Breaking News, Global & FX]
Monday, June 18, 2012, 5:11 PM The RBI may have unexpectedly refrained from cutting rates today, but what amounts to unannounced QE may explain persistent weakness in the rupee and strength in inflation despite a nominally hawkish policy. Credit Suisse notes the RBI has purchased government debt this year at nearly the same pace as the Fed in the U.S. in 2011. Comment! [Global & FX]
Thursday, May 31, 2012, 1:41 AM India's Jan.-March GDP comes in much worse than expected, +5.3% Y/Y vs. expectations of +6.1% and 6.1% growth last quarter. Rupee weakens to 56.46 against the dollar; Indian stocks fall further, now -1.3%. (official release) (previously) Comment! [Breaking News, Global & FX, Top Stories]
Thursday, May 31, 2012, 1:08 AM India's rupee falls to a record low of 56.410 against the dollar ahead of a government report expected to show GDP expanded 6.1% last quarter, matching the previous quarter's growth but still the slowest pace since 2009. The RBI is seeking a return to "trend growth" of 7-7.5%, but in the meantime the rupee may be vulnerable to dropping faster than other emerging-market currencies. Comment! [Global & FX]
Wednesday, May 23, 2012, 7:47 AM The rupee hits an all-time low for the 6th consecutive day, now requiring 56.18 of them to purchase one dollar. Traders believe the RBI intervened, temporarily sending the rupee as high as 55.52, but the currency soon weakened anew. Given global risk aversion at the moment, the RBI doesn't have a shot. Comment! [Global & FX]
Monday, May 21, 2012, 7:36 AM India's rupee falls more than 1% to an all-time low, now requiring 55 of them to buy one greenback. The central bank is in a tough spot as inflation remains high while the economy slows. The slide in the rupee - at least some of which has to do with the "risk off" tone of markets - won't help the inflation picture. 3 Comments [Global & FX]
Tuesday, May 15, 2012, 1:10 PM Stagflation rears its head in India, where inflation is refusing to respond to a slowing economy. One reason is the rupee, which has sunk to a multi-year low against the greenback. Don't expect the RBI to stop cutting rates, writes Sober Look, as the bank will likely point to the far tamer core rate of inflation. Comment! [Global & FX]

INR Market Vectors Indian Rupee/USD ETN

INR

Market Vectors Indian Rupee/USD ETN