Tracking a steep fall in local share market, the Indian rupee on Tuesday washed out initial gains and ended with a loss of 16 paise
Rupee closed at 61.86 against the dollar on Tuesday.
When asked about the Uniform Civil Code, Gandhi said he would comment on it only after he knows what is BJP's proposal.
The partially convertible rupee was trading at 65.87/88 per dollar.
Emerging markets, including India have been large beneficiaries of global monetary easing.
The creative brains behind the design of the Rupee symbol speak about their experience and the logic they applied to their design.
The rupee had closed flat at 54.85 against the US dollar in Tuesday's trade amid RBI keeping key rates unchanged in the mid-quarter policy review.
Let's take a look at the performance of some of the major currencies around the world.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
A new series of coins will be unveiled soon carrying the Rupee symbol, Finance Minister Pranab Mukherjee announced in the Budget.
The Indian rupee slid to a fresh low of Rs 55.32 against the US dollar in the afternoon trade on Tuesday as foreign funds pulled out from emerging markets avoiding risky assets.
At a time when exporters and IT companies are worried about the Rupee getting stronger against the US Dollar, subsequently "affecting business", Shiv Nadar, founder of software and hardware major HCL said things are doing fine.
State-owned Indian Strategic Petroleum Reserves Ltd (ISPRL), which operates India's strategic crude oil storage, will make awards by December to lease around 1 million tons of crude oil storage space (7.3 million barrels) at two of the country's three existing Strategic Petroleum Reserves (SPRs), around a fifth of the total SPR capacity. This will enable the refilling of crude caverns even as escalating hostilities in the Gulf threaten disruptions in crude supplies, two industry sources said.
Foreign investors pumped in Rs 11,119 crore in the Indian equities in December, making it the second consecutive monthly inflow, despite increasing concerns over the re-emergence of Covid-19 cases in some parts of the world. However, foreign portfolio investors (FPIs) have turned cautious in recent days. The inflow in December was much lower compared to Rs 36,239 crore invested by FPIs in the month of November, data with the depositories showed.
This would give BJP the chance to explore Constitutional options for government formation if there is no clear-cut mandate, explains Sheela Bhatt.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
The rupee on Friday slipped 1 paisa to close at its all-time low of 78.33 (provisional) against the US dollar. At the interbank foreign exchange market, the local currency opened at 78.20 and finally settled at its all-time low of 78.33, down 1 paisa from its previous close. During the day, the local unit witnessed an intra-day high of 78.19 and a low of 78.35 against the American currency.
Forex market was closed on Thursday on account of Ganesh Chaturthi.
The rupee rise may halt if interest rates are raised by the US Fed and the European Central Bank, and Indian domestic interest rates are lowered.
Relentless fall of the rupee has not dampened demand for rough diamonds in India.
The partially convertible rupee closed at 61.31/32 per dollar, unchanged from its Tuesday close.
Most Asian currencies are on a slide on worries about the withdrawal of US stimulus.
A depreciating rupee, which briefly hit 80 to the dollar on Tuesday, may boost India's exports but price-inelastic imports of crude oil and gold would mean limited relief on the trade deficit, which clocked a record $26.2 billion in June. Due to global risk aversion on the back of geo-political tensions and aggressive policy tightening by the Fed, the dollar has appreciated against most currencies, including the rupee. And, with other currencies depreciating, India's comparative advantage in this respect may be limited.
Indian rupee washed out initial losses against the greenback.
Domestic air passenger traffic touched 1.25 crore in January this year, an increase of 96 per cent compared to the year-ago period, according to rating agency Icra. However, it said the traffic remained around 2 per cent lower compared to the pre-Covid levels -- January 2020. The traffic stood at 64 lakh in January last year. Icra is maintaining a negative outlook on the Indian aviation industry, reflecting the view that the financial performance of Indian airlines is likely to remain under pressure in the near term, even though the recovery in domestic passenger traffic has been healthy.
Last month saw DGCX record the highest volumes, as trades in futures contracts across the bourse crossed one million contracts.
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
In a remarkable comeback, foreign portfolio investors (FPIs) have pumped Rs 1.7 lakh crore into the Indian equity markets in 2023, propelled by confidence in the country's robust economic fundamentals amid a challenging global landscape. The year 2023 has witnessed massive investment by FPIs, thanks to the sharp uptick in inflows of Rs 66,134 crore in December. Going forward, FPI flows are expected to be robust.
The accused had obtained mobile phone SIM cards in fake names and used to take betting amounts from people through QR codes, the official said.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
The five-member jury set up to finalise symbol for the rupee is said to have selected the design presented by IIT-ian D Udaya Kumar, said The Indian Express.
With the rupee crossing Rs 72/dollar in recent times, things suddenly don't look too good on several counts.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
Iran has offered to help India meet its energy needs by relaunching rupee-rial trade for export of oil and gas, said Iranian ambassador to India Ali Chegeni. Chegeni said if both the countries resume rupee-rial trade, bilateral trade can touch $30 billion. Iran used to be India's second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on its oil exports.
Rupee hits 2-month low against dollar on US rate hike fears.
The Centre was seized of the issue of the continuing appreciation of the rupee against the dollar adversely affecting the exporting community, Union Commerce and Industry Minister Arun Jaitley said on Saturday.
The dollar index recovered its early losses and was trading up by 0.11 per cent against a basket of six major rivals.
If there was one event that made the month of August stand out, it was a strengthening of the dollar index to levels last seen only 20 years ago, as the Federal Reserve dispelled all doubts about its intention to continue raising interest rates. Predictably, most currencies suffered against the US unit, with the bulk of the losers belonging to the emerging markets pack. Amid the volatility, the rupee, however, has displayed significant resilience and fared much better than most of its peer currencies.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances