INDIAN RUPEE STAYS MORE RESILIENT IN 2009

Even as the rupee hovers at a new lifetime low of Rs 51.1 to a dollar, did you know that the Indian currency has been among the more resilient in 2009?

Taking the recent slide into account, the Indian rupee has depreciated only by about 4.7 per cent so far in 2009. After clinging to an exasperatingly narrow range between Rs 48 and Rs 49 since the beginning of 2009, the rupee took a decisive step lower on February 17.

But many of the other Asian currencies have been weaker and have been steadily depreciating since the beginning of 2009.

The Hindu Business Line

RESULTS FROM IT COS SET TO EXCEED TARGETS

First-quarter results for India’s largest software services companies are expected to exceed the most bullish markets estimates, reflecting a windfall from the weaking of the rupee against the US dollar and the euro.

Livemint

Asian markets salute steep Fed cut with rally

Asian shares rallied on Wednesday with Hong Kong jumping 7 percent after the Federal Reserve's biggest interest rate cut in over two decades tempted investors to beaten-down equities, but recession fears lingered. The dollar extended its losses against the euro in early Asian trade after the Fed's emergency 75 basis-point interest rate cut wiped out the U.S. currency's yield advantage over the euro. Industrial metals, such as copper recovered some lost ground after hefty falls this week on fears a U.S. recession could derail demand, while safe-haven government bonds extended gains to fresh multi-year highs.

The Economic Times
http://economictimes.indiatimes.com/
Asian_markets_salute_steep_Fed_cut_with_rally_/
articleshow/2723158.cms

India to become trillion-dollar wealth management mkt by 2012

Indians will have one trillion dollars worth investable wealth by 2012, with the country’s robust economic growth driving a four-fold surge from just about 250 billion dollars in 2007.

MINT
http://www.livemint.com/2008/01/06121309/
India-to-become-trilliondolla.html

Rupee near 10-year high

The rupee came off from near its 10-year higher levels but still ended strong by five paisa at 39.29/30 against the US dollar on expectations of heavy allocation of foreign funds in near future in IPOs and smart recovery in the equity markets.

The Economic Times
http://economictimes.indiatimes.com/Market_News
/Rupee_near_10-year_high_vs_dollar/
articleshow/2680848.cms

Rupee to continue rise against the dollar in 2008

The Indian rupee, that has appreciated about 12% against the dollar in 2007, will continue to rise against the dollar in 2008 but move in the 38-41 band to a dollar.After nearly three decades, the rupee has appreciated 12% against the greenback and about 6% against a basket of six major world currencies belonging to the US, the UK, Japan, Euroland, China and Hong Kong. The rupee began the calendar year 2007 at Rs44.26 a dollar.

Mint
http://www.livemint.com/2007/12/28000330/
Rupee-to-continue-rise-against.html

Mukesh trails Anil in creating wealth for investors

Mukesh Ambani, the richest Indian and head of market leader Reliance Industries Ltd, was not the leading wealth creator for small investors in 2007 but was pipped for the top spot by younger brother Anil. A comparison of cumulative share price gains for the listed companies from the two groups puts the surge for Mukesh Ambani group at 153 per cent, as against about 232 per cent for the Anil Dhirubhai Ambani Group (ADAG).

The Economic Times
http://economictimes.indiatimes.com/
Mukesh_trails_Anil_in_creating_wealth_for_investors/
articleshow/2650121.cms

Clipping the dragon’s wings

Americans may well be delighted by new figures that show China’s GDP is 40% smaller than previously thought. Has the devious Beijing government been massaging the numbers, as communist planners are wont to do? Hardly. China’s GDP in yuan terms remains unchanged. What has happened is that the World Bank has changed the calculations it uses to make international comparisons of the size of economies.

The Financial Express
http://www.financialexpress.com/news/
Clipping-the-dragons-wings/254164/

Rupee is BRIC’s second fastest growing currency

The rupee has become the second most appreciating currency against the dollar among BRIC currencies, with a surge of 11% in 2007, says an analysis. While all the four BRIC countries — Brazil, Russia, India and China — have seen a sharp rise in their currencies against the dollar, the pace of rupee appreciation is only next to the Brazilian currency since the beginning of this year.

Mint
http://www.livemint.com/2007/12/23123448/
Rupee-is-BRIC8217s-second-f.html

Valuation conundrums

With the year coming to a happy end, action is getting geared up for the next year. And the valuations question raises its head again. “Is the market overvalued?”, the million dollar question once again makes the rounds. There is no doubt the Indian market is expensive. The price to earnings ratio is now around 26 times trailing earnings and the long-term average has been around 15-17 times. The price to book value is now more than 6 times, and clearly the highest ever. But then these ratios should be looked at in perspective, says optimists.

The Financial Express
http://www.financialexpress.com/news/
Valuation-conundrums/251098/

The uncomfortable rise of the rupee

India, it is fair to say, is not yet reconciled to the new-found strength of its currency. One poor wretch, pressed against the car window at a Delhi traffic light, tries to change a dollar bill she presumably cadged off a tourist. She wants Rs 50 for it. Alas, the dollar now fetches less than Rs 40(see left-hand chart). India’s currency has strengthened by about 15% against the greenback in the past year and by over 10%, on an inflation-adjusted, trade-weighted basis, since August 2006. The rupee’s rise may be less dramatic than that of the Philippine peso, Brazilian real or Turkish lira. But it is uncomfortable nonetheless.

The Financial Express
http://www.financialexpress.com/news/
The-uncomfortable-rise-of-the-rupee/252097/