The rupee weakened even as the dollar fell against major global currencies
'Without a poverty line, how are we to know whether poverty is the same, or it has come down or it has gone up?'
Rupee ended weak against the dollar.
The rupee weakened by 27 paise to trade at six-week low of 60.45 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
Increased demand for the dollar from importers affected the value of the rupee
On Tuesday, the rupee closed lower by 13 paise at 67.27.
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Gold tumbles by Rs 1,250 to Rs 30,950.
Lower dollar in the overseas market also boosted the rupee value
The surge in oil prices has also affected the rupee, which hit a 6-week low of 70.25 on Friday against the dollar.
Forex dealers said besides dollar's gains against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
Foreign capital inflows also boosted the rupee value against the dollar
The rupee rose notwithstanding weakness in local stocks with Sensex paring 110 points gained in early trade and closing 19 points lower while dollar firmed against euro.
The domestic currency has dropped 40 paise or 0.60 per cent in two days
Fresh selling of dollars by banks and exporters on the back of good foreign capital inflows helped the rupee
'The kind of tax which will be generated from the second pillar may far outweigh what we may be losing in the first pillar.'
The BJP lost 15 of the 80 Lok Sabha seats in 2019. Union ministers have been deployed in all 15, tasked with turning the result around.
The rupee had firmed up 16 paise to close at 67.52 on Thursday.
The domestic unit had recovered to 68.65 in early trade on Friday as against Thursday's closing of 68.72.
The rupee has lost 37 paise or 0.55 per cent in two days.
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
A firming trend in domestic stock markets, however, capped the rupee fall to some extent
Forex dealers said that weakness in the dollar against other currencies overseas also supported the rupee.
The rupee on Friday fell by 9 paise to 67.64 per dollar on fresh demand for the American currency.
Savita Kanswal, 26, was posthumously awarded the highest adventure award at Rashtrapati Bhavan this month. She died heroically, as she had lived, doing what no woman had done before her.
Traders said gold prices surged on hectic buying by stockists for the marriage season and weak rupee against the dollar, making the precious metal costlier.
The rupee had gained by 50 paise or 0.75 per cent in two weeks.
Falling for the first time in three days, the rupee today erased initial gains to end 15 paise lower at 62.43 against dollar on fag-end demand of the US currency from banks and importers, amid a tepid stock market.
The rupee recovered by 11 paise to trade at 60.84 against the US dollar in early trade today on selling of the American currency by banks and exporters.
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
Unwinding of long-dollar positions by speculative traders and the currency's strong underlying fundamentals buoyed the home unit
The dollar's weakness against rivals overseas supported the rupee.
In the new year be careful online as there are many scamsters lurking in the cloud, warns A Ganesh Nadar after twice escaping being scammed.
Firm equity market failed to restrict the rupee's fall against the dollar
NTPC was the biggest loser in the Sensex pack, tumbling 2.25 per cent, followed by Tata Motors, Bharti Airtel, PowerGrid, HDFC, Reliance Industries, Hero MotoCorp and M&M that shed up to 1.85 per cent.
rediffGURU Ulhas Joshi answers your mutual fund queries.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
Sustained capital inflows supporting the rupee sentiment, a forex dealer said.
The three hour long meeting was attended by Secretaries of departments of Revenue, Expenditure, Financial services and Disinvestment.
The rupee ended almost flat against the dollar.
On Wednesday, the rupee had dropped by 26 paise.
