In line with rally in stocks, the Indian rupee on Monday appreciated for the second straight session and closed with a eight paise gain at a one-week high of 61.36 against the Greenback.
The dollar index was trading higher by 0.06 per cent against its major global rivals today.
Falling for the first time in three days, the rupee today erased initial gains to end 15 paise lower at 62.43 against dollar on fag-end demand of the US currency from banks and importers, amid a tepid stock market.
Euro-zone growth could improve because of (a) reduced pace of fiscal tightening and (b) stronger exports, but weak domestic demand and a fragile banking system could increase deflation risks that could force the European Central Bank to turn further accommodative.
Foreign investors are betting top dollar on the country as growth is likely to recover at a time when other emerging markets are battling macroeconomic adjustments.
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.
The non-oil, non-finance sector of the economy is under severe stress.
A glance back at some important events that occurred in 2018.
The rupee weakened by 27 paise to trade at six-week low of 60.45 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
Continuing its range-bound movement for the fourth session, the rupee today closed up by two paise at 59.25 ahead of industrial output and retail inflation data.
In a recent article, Rajan has ridiculed critics of the exchange rate policy.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
A falling rupee and lower foreign buying in equities are signals investors should watch out for, says Devangshu Datta
RBI awaits fiscal stance, inflation to cool off to decide on rates.
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
The NSE Nifty, which dipped below the key 10,800-mark to touch a low of 10,755.40, bounced back on late buying to close at 10,817.70, up 9.65 points, or 0.09 per cent.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
The rupee opened steady at 63.30 per dollar at the Interbank Foreign Exchange; but, firmed up to 63.22 before quoting at 63.23 per dollar at 1000 hours.
A weak US dollar in overseas markets was the main reason for the rupee's rise even as losses in domestic stocks and some fag-end dollar demand from importers prevented further gains
India's manufacturing sector activity contracted for the second consecutive month in September as both output and new orders witnessed a decline, an HSBC survey said.
With rest of the world showing no signs of growth and headwinds ahead for US growth, chances are that we might continue to see central banks pumping money into their economies
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
Growth in India's gross domestic product for the June quarter of 2013-14, as well as for the entire 2014-15, was 4.7%.
Weakness in dollar in the overseas market also boosted the rupee value
Technically speaking, US equities have seen net losses since January. India is strongly influenced by US trends.
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
Traders believe the RBI will step in more strongly, if the rupee starts falling towards 65
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
Can we find fault with RBI for not intervening enough in the market? Actually no, say some experts. A correction in rupee was long overdue.
Sensex rises, Nifty holds 8,900; FMCG, Pharma shares lead.
The truth can no longer be hidden despite 'headline management' by the ruling dispensation, the opposition party said.
The estimates of national income and growth do not pass the 'smell test'.
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
The broader markets outperformed the benchmark indices- BSE Midcap and Smallcap indices gained 0.4% each
RBI Governor Raghuram Rajan has said falling oil prices act as a cushion for CAD, adding it is time India does away with restrictions on gold imports
A way out of the economic slump is to revisit the template of 15 years ago and follow its constituents, recommends Ajay Shah.
The rupee on Tuesday weakened by 15 paise to close at 63.30 against the US currency
'Instead of doing reforms and restructuring, the present government is busy with the perception that everything is fine and the economy is hunky-dory.' 'Such hollow perceptions are very dangerous for the Indian economy in the long run.' 'The real risk to India is the lack of decent employment opportunities for youth in general and educated youth in particular.'
The rouble has been falling steadily since early November and collapsed earlier this month following a spectacular decline in the price of crude oil to five-year lows.
Snapping its two-day gains, the rupee on Monday declined by 48 paise to settle at nearly four-week low of 62.17 against the US currency.
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