The US dollar strengthened against the world currencies after the Turkish lira dived almost 8 per cent, sparking a sell-off in global markets.
Former Chelsea player Didier Drogba defends Jose Mourinho, who has been accused of racism by Galatasaray.
Fenerbahce manager Jose Mourinho was handed a four-match ban and fined by the Turkish Football Federation (TFF) on Thursday following his comments about Turkish referees after a match at Galatasaray.
Sun Pharma was the best gainer among Sensex components, surging 6.91 per cent
Thousands of protesters are out on the streets of Istanbul after the arrest of the city's mayor Ekrem Imamoglu.
Jose Mourinho has filed a lawsuit against Galatasaray after they accused him of making racist statements, the manager's club Fenerbahce said on Friday.
Jose Mourinho was handed a fine and the ban over his comments about Turkish referees after a game at rivals Galatasaray, where he criticised the match officials in a press conference following the 0-0 Super Lig draw on Monday.
Here are high value currencies that are more expensive than dollar.
For the first time in 20 years, Erdogan's political future is really on the line. He must now prove that he is a leader who can get things done and can mobilise effectively the machine of the state to provide relief to the affected people and help them rebuild their homes and their lives.
Forex dealers said besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.
In comparison to other asset classes, globally, gold rallied significantly after many years to deliver 18.4 per cent returns in 2019.
Turan has been accused of sexual harassment, unlicensed possession of weapons and causing intentional injury over the fight with singer Berkay Sahin, Anadolu news agency said.
If there was one event that made the month of August stand out, it was a strengthening of the dollar index to levels last seen only 20 years ago, as the Federal Reserve dispelled all doubts about its intention to continue raising interest rates. Predictably, most currencies suffered against the US unit, with the bulk of the losers belonging to the emerging markets pack. Amid the volatility, the rupee, however, has displayed significant resilience and fared much better than most of its peer currencies.
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
The ballooning of crude prices has significantly increased the country's oil import bill and it can also lead to a worsening of the current account deficit and fiscal deficit for the domestic economy.
Turkish media said that Dincdag had been a football referee in Trabzon for 13 years when his license was revoked in 2009 and has been unable to officiate at any match since. Homosexuality has been legal in Turkey throughout the period of the modern republic and was also legalised in the Ottoman Empire from the mid-nineteenth century
Germany and Turkey were the only candidates to stage the 24-team tournament.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
Emerging market currencies including Indian rupee are likely to remain under pressure, though depreciation is expected to slow from here, Barclays said in a research report.
A rebound in oil prices, FII outflows and concerns over current account deficit weighed on the domestic currency, pushing it to fresh life-time lows.
In 2015, 130,000 Indians visited Turkey.
The US Federal Reserve has decided to keep its stimulus programme intact and this in turn will lead to some respite for the battered emerging market economies, but it should also be borne in mind that tapering is inevitable in the medium term.
It is important to understand that debt investors are a conservative lot and, in general, most such investments are hedged out of foreign exchange risk to simply earn an arbitrage profit, rather than carry the risk to possibly increase their yield.
In dollar terms, the Indian markets managed to climb back to 2008 levels only in January this year. The subsequent fall in the rupee because of emerging market woes has once again pushed the markets below their 2008 level in dollar terms.
Yes Bank was the top gainer in the Sensex pack, surging 3.76 per cent, followed by SBI at 3.18 per cent.
Still, it is not expected to gain much strength and will likely trade around Rs 63.00 to the US dollar by the end of April.
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
The reason for the stickiness in bond yields can be many, but the most responsible is the liquidity deficit stance taken by RBI, says Anup Roy.
When Japan's Yokohama Rubber announced the acquisition of Alliance Tire a few days back, it was the end of the long and successful road.
RBI governor Raghuram Rajan is likely to cut rates in next monetary policy.
RBI is unlikely to stem the slide against the dollar as the greenback is rising rapidly against all currencies in the world.
'What if Modi becomes the fascist the leftists paints him as? What if he does suspend the Constitution and declares himself the ruler, with support from the army? What exactly will you do, Mr Leftie?' asks Rajeev Srinivasan.
A theory that is doing the rounds is that with election nearing, this depreciation of the rupee will allow politicians of all hues to bring back their ill-gotten wealth.
Growth in India will pick up from current levels, says LEO Puri, managing mirector, UTI Asset Management Company.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances