Indian Rupee becomes the worst-performing major currency in Asia

Newsroom24x7 Network Hong Kong/Singapore/Mumbai: Indian Rupee has depreciated by around 9% against the US dollar since the start of 2018, making it the worst-performing major currency in Asia, according to Fitch. Fitch today released it’s analysis vis-a-vis the performance of Indian Rupee by stating that the widening of the trade deficit in July 2018 to… Read More Indian Rupee becomes the worst-performing major currency in Asia

Rising fuel prices pose India Auto-loan delinquency risks: Fitch Ratings

Newsroom24x7 Network Hong Kong/Singapore: Rising fuel prices could strain India’s commercial vehicle operators and lead to a rise in auto-loan delinquencies, says Fitch Ratings. That said, the upbeat economic outlook suggests operators may find it easier to pass increased costs on to customers than during previous fuel-price spikes. Delhi diesel prices averaged INR67.4 per litre… Read More Rising fuel prices pose India Auto-loan delinquency risks: Fitch Ratings

Fitch places PNB’s Viability Rating on Rating Watch Negative

Newsroom24x7 Network Singapore: Fitch Ratings has placed Punjab National Bank’s (PNB) Viability Rating of ‘bb’ on Rating Watch Negative (RWN), following the large fraud reported by PNB. Fitch will resolve the Rating Watch once more clarity emerges on the extent of control failures and the impact on PNB’s financial position. At this stage, Fitch does… Read More Fitch places PNB’s Viability Rating on Rating Watch Negative