Rupee may gain this week on Finance Minister’s pep-talk

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The bill also required loan documents to carry a warning: “This is a high-cost loan. You may be able to obtain a loan from another source at a lower rate of finance charge. Think carefully before you decide to accept this loan.” Despite being scaled back the 36 percent cap was dropped altogether the bill died in 2012 in the Assembly Banking and Finance Committee amid opposition by small-loan lenders. “There’s very little appetite in the Legislature for interest rate ceilings. It was very clear that was going to be a tough nut to crack,” said Dickinson, who plans to reintroduce a similar bill next year.

Rupee vs Dollar

Outgoing RBI governor D Subbarao had said on Thursday that the forex reserves were enough to manage current situation of declining rupee, and RBI would take more measures to curb rupee volatility as and when necessary. However, some market participants expect the rupee to be range-bound and trade in the 62.50-64.50 level this week. “Fed concerns are here to stay. We may see RBI coming in on the rupee fall, but their presence may not be that strong as it was last week,” said Agam Gupta, managing director and head of fixed income trading at Standard Chartered Bank.

columnist mug buck

“Low rates are above all an expression of insecurity on debt markets. That cannot last forever – even if it is a relief to the federal budget,” he said. “The central bank has announced it will raise rates again when the economy improves. That is good.” ECB chief Mario Draghi actually said after the last meeting on rates on August 1 that rates will remain low for some time.

German finance minister sees signs ECB will raise rates

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