forex cross rate

Fitch Ratings' India ratings and research arm, Ind-Ra, predicted on Tuesday that India's GDP growth will slow to 6.8% in fiscal year 2026-27, down from 7.6% in the previous fiscal year. Reasons cited include fuel and food inflation risks from uncertainty surrounding the Middle East conflict, a weaker local currency, and the potential impact of El Niño on agriculture. The agency forecasts GDP growth of 6.9%, 6.6%, 6.7%, and 6.9% for the first through fourth quarters, respectively, compared to the Reserve Bank of India's forecasts of 7%, 6.4%, 6.5%, and 6.8%. Furthermore, the agency now expects the average crude oil price to be $85 per barrel in fiscal year 2026-27 (down from $95 per barrel in May), and the average rupee exchange rate against the US dollar to be 93.98 (down from 94.28 in May), representing a 6.4% year-on-year depreciation. Ind-Ra Chief Economist Pant stated that the average price of a basket of Indian crude oil is projected to be $101.31 per barrel in the first quarter of fiscal year 2026-27 (April to June 2026) and $96.49 per barrel in the second quarter (April to July 2026). “Our crude oil price assumption for fiscal year 2026-27 is $85 per barrel. Lower oil prices will have a positive impact on the Indian economy by reducing the trade/current account deficit. However, rising inflation due to El Niño may limit the upside potential for growth from lower oil prices,” Pant said.

Hindustan Zinc: Will increase the share of renewable energy in electricity consumption to 22%.

U.S. Special Envoy for Syria, Ehud Barak: The airstrikes constitute an unnecessary escalation.

U.S. Special Envoy for Syria, Ehud Barak: The United States will encourage diplomacy between Syria and Israel.

U.S. Special Envoy for Syria, Ehud Barak, expressed deep concern over Israel's airstrikes on Abu Duhor in Syria.

U.S. Special Envoy for Syria, Ehud Barak: Israel's strike on the airbase was unnecessary.