The rupee on Monday continued its upward march against the US dollar for the third day, firming up by another 10 paise to 66.00 on fag-end selling of the American currency by banks and exporters.
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'If such inflows materialise, what will be the effect on the rupee's value -- and therefore on exports growth, the only sustainable path to recovery?', asks Mihir S Sharma.
Petrol price was on Saturday cut by Rs 0.50 per litre but there will be no change in rates of diesel.
The rupee on Tuesday fell by 25 paise to 65.05 on fresh dollar demand from banks and importers despite persistent foreign capital inflows.
The rupee extended its fall for the fourth consecutive day by losing another 6 paise to hit a fresh one-month low of 62.31.
Fresh dollar selling by exporters after USD was trading weak by 0.24 per cent against its major global rivals also aided the rupee recovery.
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The rupee closes 12 paise down against the dollar.
Bank of America expects Reserve Bank to further step up liquidity restraint through accelerated government borrowings to avoid another rate hike during July monetary policy review.
A weak dollar in overseas markets also strengthened the rupee sentiment
The partially convertible rupee closed at 60.30/31 per dollar compared with 60.28/29 on Friday.
They are set to make a whopping 900 million rupees from the Test and one-day series against India.
Following a political bandh the tournament has been reduced to a three-day, 54-hold tournament.
State-owned Indian (formerly Indian Airlines) on Wednesday said it has introduced a fuel surcharge of Rs 300 for travel on domestic sectors due to steep hike in aviation turbine fuel prices.
The domestic currency had last ended at 64.17 per dollar.
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The local currency had surged 18 paise to 63.64 in Thursday's trade.
The rupee recovered from initial losses against the American currency and was quoted higher by 6 paise to 62.00 on fresh selling of dollars by banks and exporters in view of strong foreign capital inflows into equity market.
Rupee hits more than two-year low; RBI intervenes
The dollar's preliminary moves after the low 80.90 are supportive of a like dollar rally back to 85.50. We should see confirmation of that in the early part of next week, says Sonali Ranade
Petrol price has been cut by 58 paise a litre and diesel by 25 paise with effect from midnight tonight.
The government has appointed National Internet Exchange of India (NIXI) as registrar for '.in' country code top level internet domain names.
Reliance Infocomm on Tuesday joined hands with national carrier Indian Airlines to offer mobile booking to its customers for domestic tickets at a monthly cost of Rs 25 or a day pass of Rs 3.
The rupee bounced back by four paise to close at 65.27 per dollar on fresh selling of the American currency by banks.
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On Monday, the rupee gained 16 paise.
Foreign investors have bought around $2.4 billion in both debt and equity so far in October, pushing the total inflows to nearly $36 billion so far in the year.
In the global markets, the US dollar traded lower in early trade after former US Treasury Secretary Larry Summers withdrew himself from the race to be the next Federal Reserve chairman.
The rupee had closed with a gain of 12 paise on Friday.
The rupee hovered in a narrow range of 62.20 and 62.28
After a robust Q4 FY14, thanks to election spends on advertising across platforms, media entities might see slightly lower ad revenue growth at 12 to 14 per cent.
The rupee had gained 28 paise against the American currency to settle at nearly two-month high at 66.74 in Monday's trade.
The year 2015 is likely to see lower rates to support growth and the Reserve Bank is expected to cut key policy rates by 0.25 per cent in February's monetary policy review meet, says a Bank of America Merrill Lynch report.
Weakness of the dollar against other currencies overseas gave the rupee more muscle.
The industry employs about 10 million workforce.
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