Hit hard by the appreciating rupee, exporters on Wednesday sought immediate remedial measures like pegging of dollar exchange value at 45 even as they threatened to stop exports from May 1.
Sensex rally was driven by Bajaj FinServ, Reliance Industries, Bajaj Finance, ICICI Bank, HDFC and Axis Bank. NSE Nifty climbed 326.50 points to end at 15,245.60.
The RBI has hiked repo or short-term lending rate up by 0.25 pc to 7.75 pc.
On the Sensex chart, Axis Bank, Titan, IndusInd Bank, HDFC Bank, Dr Reddy's, HDFC and Asian Paint were major losers.
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
The rupee is seen weakening against dollar in current week.
The Rupee is seen weakening further against the dollar.
It is thought that the RBI has been accumulating dollars to fight odds.
Rupee gains for 4th day against dollar, up 17 paise on Fed stance.
Strong foreign fund inflows, a weakening dollar and slipping oil prices propped up the local unit.
Rupee rebounds from one-week low, up 9 paise against dollar.
In cross-currency trades, the rupee firmed up further against the pound sterling
Rupee retreats from 3-week high against dollar ahead of Budget.
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
Rupee ended weak against the dollar.
The rupee fell by 49 paise to close at 81.89 (provisional) against the US dollar on Monday as heavy selling pressure in the domestic equities and a spike in crude oil prices weighed on the local unit.
The broader Nifty, after struggling, also managed to end above the 10,200-level.
The rupee had shed one paise to end at one-month low of 61.74 against the US dollar in Tuesday's trade.
The rupee recovered by 13 paise to close at 66.31 per dollar on fresh selling of dollars by banks and exporters despite fall in equity market.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
The rupee opened slightly higher by Rs 67.24 against Tuesday's closing level of Rs 67.26 per dollar.
The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was sharply higher by 0.62 per cent at 93.96.
India's banking system is expected to remain unscathed from the troubles in Credit Suisse as it has a very small presence in the country, experts said. Although Credit Suisse is more relevant to India's financial system than Silicon Valley Bank (SVB), it has very limited operations, according to a report by Jefferies India. The Switzerland-based bank, the report said, "has less than Rs 20,000 crore in assets (12th among foreign banks), presence in the derivatives market and funded 60 per cent of assets from borrowings, of which 96 per cent are up to two months.
Rupee falls 5 paise against dollar, ends at 61.92.
Extending losses for the fourth straight session, Indian rupee on Monday declined by ten paise to log over 13-month closing low of 63.67.
HDFC Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by Kotak Bank, Bajaj Finserv, Maruti, Titan, SBI, HUL, HDFC and Tata Steel. On the other hand, Bharti Airtel, M&M, NTPC, Tech Mahindra, Sun Pharma and PowerGrid were among the gainers.
If the war in the Israel-Gaza region escalates into a larger West Asian conflict, it could pose problems.
The rupee closed marginally stronger against the dollar on Wednesday.
Email alarm made government close arbitrage window
Spurting by a whopping 21 paise, the rupee scaled a fresh over 50-1/2-month closing peak at Rs 43.53/54 per dollar on Wednesday.
The broader NSE Nifty closed below the 10,200-mark by slumping 99.85 points, or 0.98 per cent at 10,124.905.
The RBI opened a forex swap window in August to meet the entire daily dollar requirements of three oil marketing companies as the rupee depreciated to an all-time low of 68.85 against the US currency.
The rupee on Monday failed to maintain initial gains and ended lower by five paise at 60.21 against the dollar on fag-end demand for the US currency from banks and importers.
In forward market today, premium for dollar declined on sustained receivings from exporters.
The report said the import cover has gone down to seven months, last seen in 1998 and hence, RBI will focus on recouping the reserves.
The rupee resumed higher at 67.77 per dollar as against last Friday's closing level of 67.78.
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
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