Weakness in the dollar against some currencies supported the rupee.
The Biden administration has proposed a massive hike in immigration fees, including the much sought-after H-1B visas for high-skilled foreign workers, which is very popular among Indian tech professionals. Under the proposed rule, published by the US Citizenship and Immigration Services (USCIS) on Wednesday, the application for the H-1B visa increases from $460 to $780, and L-1 from $460 to $1,385. The application fee for O-1 visas has been proposed to increase from $460 to $1,055.
The dollar index was down 0.01 per cent at 95.86 against a basket of six currencies in early trade
In the global market, dollar fell against most of its rivals on Monday.
Overseas, the US dollar hovered near a three-week low.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
The Federal Reserve must now ensure that higher inflation doesn't derail the US recovery.
The partially convertible rupee ended at 62.2825/2925 per dollar.
The BSE IT sector, however, failed to snap a three-day losing streak and closed around 0.14 per cent lower.
The rupee fell to more than one-month low of 65.75 against the US dollar on Thursday.
Heavy selling of the US dollar by banks and exporters in the face of renewed capital inflows predominantly kept sentiment highly buoyant
The rupee rose by 12 paise to close at 79.78 against the US dollar on Monday due to a weak dollar in overseas markets and an improved appetite for riskier assets. Stronger regional currencies also supported the rupee sentiment ahead of the US Fed policy decision on Wednesday. Weak domestic equities and FII outflows, however, capped sharp gains. At the inter-bank forex market, the local unit opened at 79.86 against the greenback and moved in a range of 79.70 to 79.87 in the day trade.
The Congress is planning to call a meeting of Opposition parties in May. It is possible to keep all possibilities open in case Karnataka yields a hung House, leading to a recalibrated Opposition.
The rupee is expected to become more jittery and choppy in the near-term
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
The rupee rose by 4 paise at 66.88 against the US dollar in early trade on Wednesday.
Silver also slipped below the Rs 41,000-mark by falling Rs 525 to Rs 40,975 per kg on reduced offtake by industrial units and coin makers
The 30-share Sensex closed down 114 points at 28,622 and the 50-share Nifty ended down 37 points at 8,686.
When protests broke out after a police officer shot an unarmed teenager in Ferguson, Missouri in August, police in camouflage gear wielding assault rifles and stun grenades drove through the city in armored vehicles attempting to control the crowds. Several human rights activists criticised the use of force by the police. Some said they were brutal, some said their actions were justified. So, when can cops exert force on crowds? Here's a list of situations when cops can attack a crowd.
Les Bleus, who face Poland in the last 16 on Sunday, underperformed at the Education City stadium and only after Kylian Mbappe, Antoine Griezmann and Ousmane Dembele came off the bench did they pose any threat.
Silver coins remained steady at Rs 52,000.
Globally, gold fell 0.2 per cent to $1,162.25 an ounce in Singapore.
Silver also rose by Rs 100 to Rs 37,400 per kg.
Indian rupee is likely to test 76-76.50 levels as a relatively strong greenback, boiling crude prices and COVID headwinds deepen the depreciation bias for the domestic currency, according to experts. One of the significantly-hit Asian currency in recent months amid uncertain economic times, rupee is expected to see a consolidation in the vicinity of the current level before being pulled towards the depreciation bias. While the equity market has been surging with occasional blips, the rupee has mostly been weak against the US dollar in recent months.
The rupee had ended 5 paise lower at 67.49 on Monday.
There are lessons for the Congress to learn from the Karnataka elections of how burying the hatchet among top leaders and not washing dirty linen in public can help, says Ramesh Menon.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
According to the Singapore Post, Kiribati a Micronesian country is discussing opening up its largest marine reserves to commercial fishing which may serve a dual purpose like a naval base for the Chinese as well.
Banerjee, who was speaking to reporters at West Bengal's state secretariat, said that her party's name will remain the All India Trinamool Congress.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
'We know these are mind games Ajit dada is playing, but he (Sharad Pawar) doesn't get swayed by such gestures.'
Increased selling of the US dollar by exporters supported the rupee.
Gold drifted lower by Rs 200 to trade at one-week low of Rs 31,050 per ten grams.
The rupee appreciated by 37 paise to 62.12 against the dollar in early trade on Monday.
Silver also rose 0.8 per cent to $16.63 an ounce.
The rupee ended steady against the American currency at 66.19 per dollar at the Interbank Foreign Exchange here today in view of steady dollar in the overseas market.
Both the government as well as the RBI took a series of steps to curb imports of gold and other non-essential items in addition to increase foreign exchange inflows.
Benchmark share indices opened lower on Monday, amid weak global cues, as investors turned cautious ahead of the US Federal Reserve stance on interest rate.
The rupee closed almost flat at 65.76 against the US dollar on some demand for the American currency from banks.
In the international market, gold dropped 0.3 per cent to $1,141.76 an ounce in Singapore today.
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