Bhaskar Dutta

India's banking system faced its highest liquidity deficit in nearly six months due to advance tax payments and likely central bank intervention to stabilize the rupee. The deficit reached ₹1.5 trillion ($17.7 billion) as of Monday, pushing up borrowing costs. The RBI's dollar sales and festive season cash withdrawals further strained liquidity despite recent measures to boost it.

A surge in gold imports that widened India’s trade deficit to a record last month and pushed the rupee to an all-time low was due to an error in calculation, according to people with knowledge of the matter.

The Indian rupee fell past 85 per dollar to a new low, declining with most Asian peers as hawkish commentary by the Federal Reserve weighed on sentiment.

A surge in gold imports that widened India's trade deficit to a record last month and pushed the rupee to an all-time low was due to an error in calculation, according to people with knowledge of the matter.

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(Bloomberg) -- Sign up for theIndia Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousThe rupee breaching 85 per dollar has traders speculating about the next line in the sand under the new central bank governor. The currency is expected to weaken further after falling to a record low Thursday as si

(Bloomberg) -- A group of Indian lenders has asked the central bank to approve a new benchmark for overnight indexed swaps, according to people familiar with the matter.

The Indian rupee fell the most in almost two years as month-end dollar demand by importers weighed on the currency.

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A gauge of the Indian rupee’s volatility jumped to its highest level in over a year, fueling speculation that the nation’s central bank may be easing its tight grip on the currency amid a strong dollar.