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Mint
a day ago
- Business
- Mint
Rupee falls for sixth straight session, ends 3 paise lower at 86.41 against US dollar
Mumbai, The rupee stayed weak for the sixth consecutive session and settled with a loss of 3 paise at 86.41 against the dollar on Wednesday, amid a strong American currency and outflow of foreign funds. Forex traders said the domestic unit, however, found some cushion due to lower crude oil prices and heavy buying in domestic equity markets in line with global trends after the US announced a trade deal with Japan. At the interbank foreign exchange, the Indian currency opened weak at 86.46 and touched the intra-day peak of 86.34 against the greenback. The unit ended the session at 86.41 , registering a loss of 3 paise from its previous closing level. At the end of Tuesday's trading session, the local unit settled at 86.38, down 7 paise over its previous close. This was rupee's fifth straight session of decline since July 16 when the unit had lost 16 paise and settled at 85.92 against the dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee weakened on a strong greenback and foreign institutional investors' outflows. However, overnight decline in crude oil prices and positive domestic equities cushioned the downside. "Traders may take cues from PPI and industrial production data from the US. USD-INR spot price is expected to trade in a range of ₹ 85.60 to ₹ 86.30," he added. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.04 per cent to 97.16. Analysts attributed gains in dollar index to higher inflation in the US that has reduced hopes for an interest rate cut by the Federal Reserve. Brent crude, the global oil benchmark, declined 0.52 per cent to USD 68.23 per barrel in futures trade. According to experts, investors are awaiting the outcome of India-US trade talks ahead of the August 1 deadline as Indian exporters are staring at higher tariffs in American market. If the discussions fail or get delayed, Indian exporters could face fresh pressure adding to the rupee's challenges. The US team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries. India and the US teams concluded the fifth round of talks for the agreement last week in Washington. Meanwhile, in the domestic equity market, Sensex climbed 539.83 points, or 0.66 per cent, to 82,726.64, while Nifty rose 159.00 points, or 0.63 per cent, to 25,219.90. Foreign institutional investors offloaded equities worth ₹ 3,548.92 crore on a net basis on Tuesday, according to exchange data. This article was generated from an automated news agency feed without modifications to text.
Business Standard
2 days ago
- Business
- Business Standard
CARD91 Promotes Puneet Mathur to Chief Information Officer
PRNewswire Bangalore (Karnataka) [India], July 22: CARD91, a leading innovator in payment infrastructure, is pleased to announce the promotion of Puneet Mathur to the role of Chief Information Officer (CIO). This leadership move reflects CARD91's ongoing commitment to building secure, intelligent, and future-ready payment infrastructure for banks, fintechs, and regulated financial institutions. Puneet joined CARD91 in 2020 as Vice President - Client Solutioning, where he led the company's solution architecture and enterprise-grade integrations across both card and UPI rails. With nearly 24 years of experience in enterprise architecture, technology implementation, and systems integration, Puneet has played a critical role in delivering scalable, compliant, and high-performance solutions for CARD91's clients. An alumnus of IIT Kanpur and IIM Calcutta, Puneet's professional journey spans leadership roles at Citigroup, a successful tenure as Partner & CTO at HytechPro, and as Co-founder & CTO of YoGems. In his new role as CIO, Puneet will lead CARD91's technology strategy--focused on accelerating platform innovation, strengthening the technology backbone, and driving collaboration with ecosystem partners to deliver intelligent, resilient, and compliant payment solutions. "I'm privileged to step into the role of CIO at CARD91," said Puneet Mathur. "My focus will be on strengthening our technology infrastructure, ensuring platform scalability, enhancing system security, and embedding robust compliance frameworks. I will be focused on driving innovation across our products, building resilient architectures, and delivering high-performance, future-ready payment solutions that meet the dynamic needs of the fintech ecosystem." "Puneet's leadership has been pivotal to our growth," said Ajay Pandey, CEO of CARD91. "His deep technical acumen and customer-first mindset will accelerate our mission to simplify and modernise digital payments for the industry." About CARD91 CARD91 is an Issuance Platform-as-a-Service company providing unparalleled technology infrastructure to Banks, Prepaid License holders, and Authorised Dealers. The company helps them issue various payment instruments (PPI, Debit, Credit, Multi-Currency, UPI, and now, Credit Line on UPI) to their customers, ensuring seamless issuance and enhanced control. CARD91's support for multiple use cases aligns with its vision of making issuance seamless and swift for issuers. With a team strength of 100+ professionals, CARD91 operates across key financial hubs, including Mumbai, Bangalore, Delhi, and Chennai.
Barnama
2 days ago
- Business
- Barnama
Malaysia's Inflation Rose Slower At 1.1 Pct In June 2025
BUSINESS KUALA LUMPUR, July 22 (Bernama) -- Malaysia's inflation rose at a slower pace of 1.1 per cent in June 2025, with the index standing at 134.5 points compared to 133.0 in the same month last year, according to the Department of Statistics Malaysia (DoSM). DoSM's June 2025 consumer price index (CPI) release stated, moderation was also reflected in the Producer Price Index (PPI) for local production, which declined by 3.6 per cent in May 2025. Chief statistician, Datuk Seri Dr Mohd Uzir Mahidin, said 59.2 per cent of items, or 339 out of 573, recorded price increases. 'Nonetheless, of this total, 329 items (97.1 per cent) recorded an increase of less than or equal to 10 per cent, while only 10 items posted increases exceeding 10 per cent in June 2025. 'The remaining 192 items (33.5 per cent) recorded a decline, and 42 items remained unchanged,' he said. DoSM said the food and beverages group, which contributes 29.8 per cent to the total CPI, rose 2.1 per cent in June 2025. The food away from home subgroup recorded a higher increase of 4.7 per cent, compared to 4.4 per cent in the previous month. However, the food at home category declined by 0.4 per cent, partially offsetting overall inflation, the department said.
New Straits Times
2 days ago
- Business
- New Straits Times
Malaysia's inflation rose slower at 1.1pct in June 2025
KUALA LUMPUR: Malaysia's inflation rose at a slower pace of 1.1 per cent in June 2025, with the index standing at 134.5 points compared to 133.0 in the same month last year, according to the Department of Statistics Malaysia (DoSM). DoSM's June 2025 Consumer Price Index (CPI) release stated moderation was also reflected in the Producer Price Index (PPI) for local production, which declined by 3.6 per cent in May 2025. Chief statistician, Datuk Seri Dr Mohd Uzir Mahidin, said 59.2 per cent of items, or 339 out of 573, recorded price increases. "Nonetheless, of this total, 329 items (97.1 per cent) recorded an increase of less than or equal to 10 per cent, while only 10 items posted increases exceeding 10 per cent in June 2025. "The remaining 192 items (33.5 per cent) recorded a decline, and 42 items remained unchanged," he said. DoSM said the food and beverages group, which contributes 29.8 per cent to the total CPI, rose 2.1 per cent in June 2025. The food away from home subgroup recorded a higher increase of 4.7 per cent, compared to 4.4 per cent in the previous month. However, the food at home category declined by 0.4 per cent, partially offsetting overall inflation, the department said. DoSM also noted that several groups posted the same rate of increase as the previous month: education (2.2 per cent), housing, water, electricity, gas and other fuels (1.7 per cent), and insurance and financial services (1.5 per cent). Meanwhile, restaurant and accommodation services rose at a slower rate of 2.8 per cent in June 2025 (May 2025: 3.0 per cent); recreation, sport and culture at 0.8 per cent (May 2025: 0.9 per cent); transport at 0.3 per cent (May 2025: 0.7 per cent); and furnishings, household equipment and routine household maintenance at 0.1 per cent (May 2025: 0.2 per cent). However, some groups recorded higher increases compared to May 2025, namely personal care, social protection and miscellaneous goods and services at 4.2 per cent (May 2025: 3.7 per cent), and health at 1.2 per cent (May 2025: 1.1 per cent). In addition, the information and communication as well as clothing and footwear groups remained in negative territory, registering -5.4 per cent and -0.3 per cent, respectively. Mohd Uzir added that, at the state level, 10 states recorded increases below the national inflation rate of 1.1 per cent, with Kelantan posting the lowest increase at 0.2 per cent in June 2025. "However, five states recorded inflation above the national rate – Negeri Sembilan (1.6 per cent), Selangor (1.6 per cent), Johor (1.5 per cent), Melaka (1.3 per cent), and Kuala Lumpur (1.2 per cent). "All states recorded an increase in food and beverage inflation, except Kelantan (-0.1 per cent). The highest was in Negeri Sembilan at 3.3 per cent, followed by Selangor (3.1 per cent), Putrajaya (2.9 per cent), Terengganu (2.6 per cent), Johor (2.2 per cent) and Labuan (2.1 per cent)," he said. For the second quarter of 2025, Mohd Uzir said the inflation rate rose at a slower pace of 1.3 per cent compared to the same quarter of the previous year (1Q 2025: 1.5 per cent). He said monthly headline inflation increased by 0.1 per cent in June 2025 compared to May 2025. Meanwhile, core inflation rose 1.8 per cent in June 2025, unchanged from the previous month. — BERNAMA
BusinessToday
2 days ago
- Business
- BusinessToday
Malaysia's Inflation Increased Slower At 1.1% In June
Malaysia's inflation increased slower at 1.1 per cent in June with the index points stood at 134.5 as against 133.0 in the same month of the previous year. The Department of Statistics noted that the slowdown was also reflected by the decline in Producer Price Index (PPI), local production registering negative 3.6 per cent in May 2025. The Food & Beverages group which contributes 29.8 per cent of the total CPI weight increased 2.1 per cent in June 2025, the same rate as recorded in May 2025. The subgroup of Food away from home showed a higher increase, 4.7 per cent as compared to 4.4 per cent in the preceding month. However, DOSM said the decrease of Food at home at negative 0.4 per cent to a certain extent offset the inflation from increasing further. Besides, the group of Education, 2.2 per cent; Housing, Water, Electricity, Gas & Other Fuels, 1.7 per cent; Insurance & Financial Services, 1.5 per cent and Alcoholic Beverages & Tobacco, 0.6 per cent also increased at the same rate as recorded in the previous month. Moreover, Restaurant & Accommodation Services, 2.8 per cent; Recreation, Sport & Culture, 0.8 per cent; Transport, 0.3 per cent and Furnishings, Household Equipment & Routine Household Maintenance, 0.1 per cent registered a slower increase in June 2025. The report highlighted ten states that recorded increases below the national inflation rate of 1.1 per cent, with Kelantan recording the lowest increase at 0.2 per cent in June 2025. However, five states recorded increases above the national inflation level, namely Negeri Sembilan (1.6%), Selangor (1.6%), Johor (1.5%), Melaka (1.3%) and Wilayah Persekutuan Kuala Lumpur (1.2%). The monthly headline inflation increased 0.1 per cent in June 2025 as compared to May 2025. The increase was attributed by the Personal Care, Social Protection & Miscellaneous Goods & Services which rose by 0.4 per cent. Meanwhile, Food & Beverages, Transport and Education recorded an increase of 0.2 per cent respectively. Additionally, both Recreation, Sport & Culture and Restaurant & Accommodation Services increased 0.1 per cent in June 2025. Core inflation increased 1.8 per cent in June 2025, the same rate as recorded in the previous month. The increase was driven by Personal Care, Social Protection & Miscellaneous Goods & Services (4.2%); Food & Beverages (3.8%); Restaurant & Accommodation Services (2.8%); Transport (2.3%) and Education (2.2%). DOSM pointed out that in comparison to inflation in other selected countries, inflation in Malaysia (1.1%) was lower than inflation in Viet Nam (3.6%), Republic of Korea (2.2%), Indonesia (1.9%) and Philippines (1.4%). However, the rate was higher than China (0.1%) and Thailand (-0.3%). Related
