The Fed Chairman, Jerome Powell was quoted as saying by reports that the bank is firmly committed to lowering inflation.
The rupee consolidated in a narrow range and settled 5 paise higher at 82.35 (provisional) against the US dollar on Tuesday.
After jumping nearly 560 points during the session, the 30-share BSE index ended 37.70 points or 0.07 per cent lower at 57,107.52. Similarly, the NSE Nifty shed 8.90 points or 0.05 per cent to close at 17,007.40.
Vetrivel said that the Reserve Bank of India has never said that these coins are worthless and asked why the banks were not accepting them.
However, runaway depreciation might not happen amid the central bank's intervention, Trivedi said.
The rupee appreciated by 20 paise to close at 76.42 (provisional) against the US dollar on Thursday, supported by positive domestic equities and trends in state election results.
The rupee on Monday slumped by 19 paise to 74.62 (provisional) against the US dollar at close due to high crude oil prices, forex outflows and heavy losses in domestic equities amid growing geo-political worries.
Mumbai: The Indian rupee plunged to a record low of 70.52 during the noon-trade session on Wednesday. It had retreated sharply on Monday to hit a closing low of 70.16 against the US dollar, plunging by 25 paise despite a huge rally in equities amid easing worries over near-term monetary policy tightening by the US […]
Mumbai: Indian stocks ended higher on Friday despite negative global cues as financials stocks led the gains on major equity indices. In addition, the sentiments were lifted as the Indian currency strengthened by over 30 paise on Friday to trade at 69.85 per dollar, against the previous close of 70.19 per dollar. The gains by […]
Mumbai: Higher crude oil prices and gold imports widened India’s current account deficit (CAD) to $19.1 billion during the second quarter of 2018-19 from $15.9 billion in the preceding quarter and $6.9 billion in the corresponding period of 2017-18, the Reserve Bank of India (RBI) data showed on Friday. “India’s CAD at $19.1 billion (2.9 […]
Mumbai: The key Indian equity market indices on Thursday opened higher following a positive trend in global markets. The Sensitive Index (Sensex) of the BSE, which had closed at 35,716.95 points on Wednesday, opened higher at 35,997.29 points. Minutes into trading, it was quoting at 35,961.22 points, up by 244.27 points, or 0.68 per cent. […]
Mumbai: India’s benchmark stock indices followed their Asian peers lower on Tuesday, after an overnight slump on the Wall Street led by technology stocks. The S&P BSE Sensex fell 300 points while the broader Nifty settled below the 10,700-mark. “With regard to the RBI board meeting, the market drew relief from the fact that the […]
Mumbai: Broadly negative Asian markets, along with a slightly weak rupee and profit booking dragged the key domestic equity indices in the red during Monday’s morning trade session. In addition, heavy selling pressure was witnessed in banking, auto and consumer durable stocks. The Indian rupee opened on a weaker note at 72.88 per US dollar […]
Mumbai:The 30-scrip S&P BSE Sensex on Friday opened in the negative territory taking cues from its Asian peers. Heavy selling pressure was witnessed in finance, banking and metal counters. The Sensex of the BSE opened at 33,776.80 from its previous close at 33,690.09 on Wednesday. At 9.20 a.m., the Sensex traded at 33,553.39 down by […]
Mumbai: The Reserve Bank of India’s (RBI) stance, along with an expected hike in the US lending rates and high crude oil prices are expected to further exert pressure on the Indian rupee in the coming week, experts say. In addition, the continuous outflow of foreign funds from the equity segment and global market volatility […]
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