The rupee gained 49 paiss on Thursday to end at over 4-1/2-month high of 53.02 against the US dollar on heavy selling of the American currency by exporters and some banks.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
Bearish greenback overseas and robust capital inflows predominantly supported the domestic currency
Fresh demand for dollars from banks and importers in view of firm dollar in the overseas market mainly affected the rupee value against the US unit, a forex dealer said.
Rising for the fifth straight session, the rupee gained 9 paise at 66.31 against the dollar in early trade on Monday.
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
Pawan Ruia has finally done it, a beaming Buddhadeb Bhattacharjee, then West Bengal chief minister, had said at the reopening of the 70-year-old Sahagunj factory owned by Dunlop in 2005. But with the Calcutta high court passing a winding-up order in 2013 and the Trinamool Congress-led state government passing a Bill to take over the company in 2016, the once-upon-a-time undisputed leader in the Indian tyre industry looks vastly undone. But that can hardly be a deterrent for Ruia, who has a penchant for making headlines one way or the other.
He escaped the country in the first week and took the oath of allegiance in Antigua on January 15
"Maharashtra has got nothing to do with Kashmir? Soldiers from Buldhana sacrificed their lives for the protection of Kashmir. Opposition doesn't feel national issues are important," he said.
Sustained capital inflows supporting the rupee sentiment, a forex dealer said.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
After completing four days of gains, gold prices spurted here by Rs 400 today to regain the psychological level of Rs 28,000 per ten grams on sustained seasonal buying amid a firming global trend.
Rupee gained on increased selling of the US currency by banks and exporters
Banks and importers preferred to increase their dollar position at the current level, a forex dealer said.
If New Delhi finds itself out in the cold in Afghanistan, both the Congress-led UPA and BJP-led NDA have only themselves to blame. Each has been in power for a full decade from 2001, without reaching out to the Taliban, points out Ajai Shukla.
The rupee had lost 11 paise to close at 66.44 against the dollar.
'In my 20 years, I have never seen such high rates.'
The domestic currency has gained 9 paise or 0.13 per cent in two days.
The rupee's upward movement was aided by a good dose of dollar selling by exporters and some banks, amid a weak dollar overseas, said forex dealers.
Overseas, the US dollar hovered near a three-week low.
Sustained demand for the dollar is the reason.
The services of three lab technicians of the blood bank attached to a government hospital at Sattur, near Virudhunagar, have been terminated,Health Minister C Vijayabaskar said Wednesday.
The rupee had gained 49 paise yesterday to close at over 4-1/2-month high of 53.02 against the dollar on heavy selling of the American currency by exporters and some banks.
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.
Weakness of dollar in the overseas market also boosted the rupee value, a forex dealer said.
In the World Bank's rankings on the "Ease of Doing Business" India stands at 139 out of 189 economies surveyed in 2014; its position has in fact dropped from 131 last year.
The rupee had tumbled by 30 paise to close at two-and-a-half-month low of 55.51 against the dollar in the previous session on Friday on sustained demand for the dollar from importers and banks.
'As banks grapple with risk aversion and savers see an erosion in the value of money, the P2P platform can be a win-win for both borrowers and lenders,' notes Tamal Bandyopadhyay.
The rupee had recovered by 10 paise to close at 55.06 against the dollar on Monday on dollar selling by exporters amid weakness in the American currency in international markets.
Modi, 46, who had figured in the Forbes' list of richest Indians, has been named in the cheating case on a complaint from the PNB, which alleged that the jewellery firm owner, his brother, wife and Choksi entered into a criminal conspiracy with the officials of the bank and cheated it, causing a "wrongful loss".
Forex dealer said increased demand for the American currency from oil importers and dollar's gains against other currencies overseas mainly put pressure on the local unit.
silver coins held steady at Rs 52,000 for buying.
India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.
Launching a fresh offensive against the Congress, Shah said the opposition party is known for its "vote bank" and "appeasement" politics during elections, but Gandhi should answer whether it is above national interest and if such politics can be done over the grief of families of soldiers killed.
Both Purvi Deepak Modi and Neeshal Modi are accused in the $2-billion scam allegedly orchestrated by their elder brother Nirav Modi and uncle Mehul Choksi in Punjab National Bank, they said.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
British oil firm Cairn Energy Plc on Tuesday said it has identified Indian sovereign assets overseas, which it can seize in the event of New Delhi failing to return over USD 1.7 billion that an international arbitration tribunal has ordered after rescinding a retrospective tax demand.
Investors are trying to push ahead with dollar purchases, emboldened by improving market sentiments
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