India’s Forex Reserves Surge to $312.58 Billion in Week through June 6 The Indian foreign exchange reserves accelerated to $312.58 billion in the week through June 6, an increase of $203.2 million, according to data compiled by the Reserve Bank of India. The growth, the first one after two successive weeks of decline, was mainly due to a quick jump in the value of international currency holdings. The forex reserves had earlier ...
Tonight, Narendra Modi will be sworn in as India’s new Prime Minister. And there is no shortage of advice on what he should do once he takes power. Today, India’s daily newspapers and the world’s financial press have been publishing articles telling the new man in charge just what he needs to do to help India reach its potential, and there are some common themes. As context, it’s worth noting what the stock market tells us about expectations: Mumbai’s benchmark Sensex index rose 15% ...
Election of Pro-business Government in India Sparks Market rally Friday’s election results showing Modi win sparked a rally in the Indian Rupee and the Mumbai Sensex. Mumbai’s Sensex stock index is up over 7% this week and 14% since the start of the year over the prospects of the Pro-business Modi taking office.Markets are hopeful that the new Prime Minister will be able to revitalize a stagnating Indian economy which has seen GDP growth slow to a mere 4.7% and a currency ...
Recent Comments