The Troubled Rupee
The Reserve Bank of India (RBI) likely sold dollars via state-run banks after the rupee slid to a record low on Thursday, several dealers said, as fears of foreign outflows from India are roiling domestic bond and stock markets. Full Article
- "Hazardous" air, murky skies in Singapore from Indonesian fires
- Rupee slumps to record low; bonds, stocks slump
- RBI again seen selling dollars via state-run banks - dealers
- UPDATE 1-U.S. states, greens delay lawsuit, await Obama climate plan
- Finance minister holds meeting with officials over rupee fall
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
India considers allowing further wheat exports
NEW DELHI |
NEW DELHI (Reuters) - India is considering allowing additional wheat exports to cut huge stocks at government warehouses and make room for the new season's harvest, Food Minister K. V. Thomas said on Thursday.
After lifting a four-year-old ban on wheat exports by private traders in 2011, last year the government approved 4.5 million tonnes of exports from its overflowing warehouses, and more than 2 million tonnes of this total has yet to be shipped.
Approval of yet more exports by India, the world's biggest wheat producer behind China, will help buyers in the Middle East and Africa as leading suppliers Russia and Australia are facing falling output.
"We are considering some more exports. That is the best way to lower your huge surplus stocks when world prices are good," Thomas told Reuters.
Separately, Thomas said the government would prefer to wait until end-February to get a clear idea about the 2012/13 season sugar output before conceding to industry's demand to raise import tax. (Reporting by Jo Winterbottom and Mayank Bhardwaj; Editing by Anthony Barker)
- Tweet this
- Share this
- Digg this