The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle
Biden, 'plotting an ambitious presidency that would begin amid twin health and economic crises, is leaning on veteran advisers with high-level governmental experience rather than outsiders and ideological rivals to help guide him on subjects including the coronavirus pandemic and the country's diminished standing in the world', a report in The New York Times said.
Weakness in other currencies against the dollar overseas, after US Fed indicating interest rates could rise earlier than expected as the jobs market picking up, also put pressure on the local unit, forex dealers said.
'No one in this administration, not the President nor anyone on the national security team, would suggest that the Taliban are respected and valued members of the global community'
The rupee surged to its highest level in five weeks to end at 65.58 by gaining 38 paise against the US currency.
India will have to show more willingness to import, and since Biden will not encourage sale of oil and gas to bridge the gap, it means there has to be more meaningful duty reduction in other areas even if Delhi baulks at a Free Trade Agreement so soon after walking out of RCEP.
A weak dollar in overseas market in view of the Federal Reserve's cautious stance on interest rate strengthened the rupee value.
'For someone who wants to invest for the future or his family, diversification is necessary.' 'Diversify across asset classes -- equities, gold, real estate, fixed income, commodities, and even cryptocurrency.'
We have not suffered such huge price shocks across so many basic commodities, at the same time, in decades. Has the inflationary impact of all this been factored into stock prices as yet, asks Debashis Basu.
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
The rupee recovered 20 paise to close at over three-week high of 60.47 against the US dollar in the previous session on Friday following strong local equities and capital inflows.
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Rupee rebounds 26 paise against dollar; snaps 2-day losses
As Indians scrambled to exchange the banned notes for new currency, Paytm, Sharma's digital payments startup, went on a promotional spree, inviting Indians to start using Paytm's digital wallet to pay for everyday goods and services.
After three sessions of weakness, the rupee strengthened by 50 paise against the dollar.
Domestic shares and other global markets rose on upbeat trade data from China earlier in the day and after a US House deal extending the federal borrowing authority.
Chanda Kochhar is among the three Indians in Time's Most Influential list.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
The rupee bounced back by 26 paise to end at 59.93 against the American currency on Friday as exporters and some banks sold dollars.
Total market capitalisation of BSE listed firms stood at Rs 101.49 lakh crore on March 31.
Foreign funds sold Indian shares worth 446.9 million rupees ($7.4 million) on Wednesday, provisional exchange data showed, marking the third consecutive session of outflows.
India is better prepared to deal with any further US Fed tapering, but the country needs to remain vigilant to face eventualities, Reserve Bank Governor Raghuram Rajan said.
Sharp swings likely in equity, forex and bond markets.
Global adulation continued to pour in for Sachin Tendulkar, as after being named Person of the Moment, Time magazine has now conferred the retiring batting legend with the 'Person of the Week' honour.
A stronger dollar makes oil more expensive because it raises the cost for imports for most of the world's countries
The Sensex ended in red on domestic concerns.
Telecom, metal and healthcare came as dampeners.
Demand bounces back but uncertainty over GST rate for jewellery casts a shadow over future.
President Donald Trump has tapped Jerome "Jay" Powell to lead the US central bank, bypassing Janet Yellen for a second term despite praising her excellent management of the world's largest economy over the past four years.
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
Decline in the rupee coupled with a slide in the crude oil prices have dented the sentiments.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
Spot gold fell as far as $1,142.10 an ounce on Thursday, its lowest since November 2014.
Reliance chairman Mukesh Ambani has moved 2 ranks ahead this year on the most powerful list.
The gains will provide a much-needed reprieve after the rupee fell for a fifth week and hit an over two-month low last week in trade.
Weaker-than-expected growth in US jobs in recent months had already forced US central bankers to put off a rate hike at their meeting last week
US President Barack Obama has nominated Janet Yellen to head the Federal Reserve Board, describing her as one of America's "foremost economists and policy makers".
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
State Bank of India chief Arundhati Bhattacharya, ICICI bank head Chanda Kochhar, Biocon founder Kiran Mazumdar-Shaw and HT Media chair Shobhana Bhartia are among the world's 100 most powerful women.
Total holdings of the top eight gold ETFs have risen by 3.8 million ounces so far this year
Broader market underperformed the headline indices
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