Singapore dollar price in indian rupees

In May, the employee was paid Rs 1.42 crore (165,398,851 Chilean pesos) instead of his salary of Rs 43,000 (500,000 pesos). (Representative Image) The rupee touched a record low, sliding near 79 to a dollar, on June 29 as foreign investors continued selling local equities and crude oil prices rose. Experts say the sharp fall of the rupee can be attributed to the strength of the greenback and lower forward premiums, among others. Moneycontrol explains the reasons for the rupee’s depreciation. How much did the rupee depreciate? The rupee opened at 78.85 per dollar and slid to 78.95, an all-time high, during intra-day trade on Wednesday. On a weekly basis, the currency has depreciated 1.2 percent. Close Why is the rupee in a free fall? Central banks led by the US Federal Reserve tightening interest rates globally, increases in crude oil and commodity prices, lower forward premiums and weakening forex reserves are some of the reasons experts cite for … [Read more...] about MC Explains | Will RBI let the rupee adjust to new lows?

Indian corporates may face an elongated receivable cycle, or even default on payments by Russian importers due to the sharp fall in Russian Rouble , bankers said. The Russian Rouble fell nearly 30% on Monday against the US dollar after the country’s premier Vladimir Putin on Sunday ordered his nuclear forces to be on high alert in view of the evolving Russia-Ukraine conflict . Separately, in view of the steep depreciation of its currency, the Bank of Russia on Monday decided to increase the key rate to 20% per annum from 9.50%, the sharpest rate hike since 2014, to compensate for the increased depreciation and inflation risks. “This is needed to support financial and price stability and protect the savings of citizens from depreciation,” the central bank said. Indian companies have a significant presence in Russia. As per data by Indian embassy in Russia, bilateral trade between the two countries between April 2020-March 2021 amounted to $8.1 billion. Indian exports … [Read more...] about Indian corporates brace for delay in receivables, defaults as Russian rouble tanks

- A + A (June 30): All emerging Asian currencies were set for half-yearly losses on Thursday, with the South Korean won set to lose the most, as policy tightening by the US central bank and concerns over global economic outlook spurred selling in Asian assets. The won dropped 8.4% so far this year, while the Philippine peso and Indian rupee were on track to post half-yearly losses of 7.3% and 5.8%, respectively. Emerging markets in the six-month period were battered by capital outflows due to the US Federal Reserve kicking off its tightening cycle, Russia's invasion of Ukraine, and inflation from higher commodity prices. Among local drivers, China's insistence on a zero-Covid policy also spurred selling as the country's repeated imposition of restrictions means a slower economic recovery for the region's largest economy. "The broader market ... they need some more convincing because I think at the back of their mind, they've still got this hesitancy due to the … [Read more...] about Asian currencies set for half-year losses on rate hikes, inflation woes

- A + A (June 30): Valuations are starting to turn attractive for South Korea bonds amid signs the market has overpriced how much the most hawkish central bank in emerging Asia may raise rates. Won forward rates are pricing in about 125 basis points of hikes over the next six months, far above economists’ forecasts for how much the Bank of Korea will move. This points to an improving environment for won bonds, the biggest loser among emerging-Asia’s sovereign debt this quarter as inflation quickened to a 14-year high and bets on rate increases jumped. Increased flows into Korean debt may help ease pressures on the won, which last week reached a 13-year low. The country is vulnerable to soaring imports exacerbated by a weak currency. It also means that Korean bonds may start to diverge from other emerging markets in Asia, where the risk of interest-rate swaps and yields moving higher is clouding the outlook. “We see value in Korean government bonds, as the market … [Read more...] about Bond traders bet market has swung too far on Korea rate hikes

KUALA LUMPUR: Bursa Malaysia ended the first half of 2022 on a disappointing note as selling pressure picked up the pace while key Asian markets also closed lower. The bellwether FBM KLCI has so far this year lost 123.31 points or 7.86% from 1,567.53 on Dec 31, 2021. The index closed the final day of the first half 7.26 points lower or 0.5% to close at 1,444.22. In the broader market, laggards outnumbered gainers 521-to-327; about 2.26 billion shares changed hands valued at RM1.97bil. “Markets are getting slammed as we head into the quarter-end, with global growth worries dominating and gas flows into Europe topping the laundry list of concerns on the continent,” SPI Asset Management managing director Stephen Innes said. He said the broader narrative remains unchanged, with growth worries dominating on the back of central bank tightening and the Fed road show pushing its hawkish front loader tone. “More broadly, price action continues to act poorly with growth worries … [Read more...] about Bursa ends 1H on a disappointing note, KLCI closes 7.26 points lower