The rupee on Friday resumed lower at 60.25 a dollar from previous close of 60.19 at the Interbank Foreign Exchange market.
The dollar index was up by 0.43 per cent against a basket of six major currencies as euro dropped against the dollar, after quarterly economic reports from France and Germany missed expectations, said analysts.
India's foreign exchange reserves shot up to an all-time high of $339.99 billion.
Continuing its downward trend for the fifth consecutive week, the foreign exchange reserves plunged $2.754 billion to $311.427 billion in the week to October 3, led by a major fall in non-US currency assets, according to data released by the RBI.
Forex dealers said besides the dollar's gains against the euro overseas, increased demand from importers for the US currency and a lower opening in the domestic equity market also put pressure on the rupee.
India's forex reserves rose for the fifth consecutive week, adding $4.41 billion to $295.71 billion in the week ended December 6 on account of a rise in foreign currency assets, the Reserve Bank said.
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
India's foreign exchange reserves fell by $23 million for the week ended July 22, 2005.
Nearly two-thirds of India's gold demand comes from rural areas where jewellery is a traditional store of wealth for millions who have no access to the formal banking system.
India's foreign exchange reserves declined by a huge $2.23 billion to $275.49 billion on a sharp dip in the foreign currency assets, the Reserve Bank said on Friday.
While Wipro leads the pack on absolute numbers, analysts for Infosys for reporting consistent growth, revising FY22 guidance and beating TCS on revenue growth.
India's forex reserves dropped by $346 million to stand at $228.996 billion for the week ended August 10.
'The news about the new virus strain in the UK provided them with an opportunity to take money off the table.'
Dropping for the second straight week, India's foreign exchange reserves plummeted by a hefty $3.20 billion at $284.65 billion on a heavy decline in the currency assets, the Reserve Bank said.
Forex dealers said besides the dollar's gain against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
Morgan Stanley writing down its investment in the e-commerce leader by 27 per cent does not augur well for the sector.
Sustained dollar unwinding from exporters and banks amid weak overseas trend gave a boost to the rupee
Consistent capital inflows and a recovery in local equities helped the local unit to trim initial losses
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
The bank is expected to report a pre-tax profit of $21 bn.
A lower opening at the domestic equity market and the dollar's rise against other major currencies overseas also put pressure on the rupee, dealers said.
China consumed roughly 10.50 million barrels per day of oil in June.
Indian gold demand seen falling to 8-year low in festive quarter.
Apple said it sold 51.2 million iPhones in its second fiscal quarter, down from 61.2 million in the same quarter a year ago but above analysts' estimates of about 50 million devices.
The answer isn't easy, especially in a recession. Here's how to think it through.
Indian investments in equity and debt account for the second-highest remittances outgo (about a quarter).
Broader market underperformed the headline indices with BSE Midcap and BSE Smallcap finishing in red
Wipro said recently it was expecting its revenue growth to drop 2.33 per cent or stay flat between $2,015 and $2065 million.
Might earn around Rs 3,720 crore on export of 2 mt of wheat, despite dipping prices in international markets
Punjab faces many mortal threats. For most of these the people of Punjab are themselves responsible. And unless they take a brutal hard look within, their future generations have to be resigned to continue living with this constant slide, warns Shekhar Gupta.
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
The UN Conference on Trade and Development (UNCTAD) said in a report on Monday that a lower but positive economic growth in India in the post-Covid-19 pandemic period and India's large market will continue to attract market-seeking investments to the country. The World Investment Report 2020 by UNCTAD said that India was the 9th largest recipient of FDI in 2019, with 51 billion dollars of inflows during the year, an increase from the 42 billion dollars of FDI received in 2018, when India ranked 12 among the top 20 host economies in the world.
Recovery was largely driven by the European Union markets.
India-made garments have the largest pie in US imports in H1
Bangalore based Wipro Technologies announced its Q1 results on Thursday. Compared to the last quarter, its net profit dropped to Rs 726 crore
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
Australian great Margaret Court won 24 grand slam singles titles, one ahead of American Williams, who confirmed she was pregnant on Wednesday and will sit out the rest of the season.
Experts caution against tough times in Indian equity markets in 2015.
'From the time India liberalised in the 1990s, the government has policies are for facilitating the growth of the manufacturing sector.' 'The policies were put in the hope that growth of the manufacturing sector will lead to increased employment,' points out Chidambaran G Iyer, Senior Fellow, Pahle India Foundation.
'Hathras, Muradabad, Trichur, Salem, Madurai, Aligarh and Kanpur are cities where we are expecting and in some cases have seen new buyers come from.'
