If there is turmoil in currencies, gold can shoot up sharply, says author of Arora Report.
'Many countries believe that if they join BRICS, they will be seen as emerging countries and their stature will be enhanced.' 'G-20 still has common action plans while BRICS does not do that much.'
The rupee had ended almost flat at 61.41 against the Greenback in the previous session on Wednesday on alternate bouts of buying and selling.
RBI governor Raghuram Rajan, on Monday, said the current level of the rupee is "pretty reasonable" and any attempt to devalue it may lead to a surge in inflationary pressures and "offset any benefits"
The Indian rupee ended slightly lower at 64.01/02 per dollar compared with Tuesday's close of 63.98/99 per dollar due to month-end dollar demand by importers.
'We will buy coolers if the need arises. It's very hot out there. We had brought Rs two lakh cash with us but have already spent about 5-6 lakh rupees so far.'
The home currency failed to keep momentum going and largely traded in a narrow range with positive bias in the absence of any market moving factors
Adequate dollar supply gave a boost to the local currency
The Rupee is seen recovering from its all-time lows against the dollar.
Analysts factor in 200-300-bps impact on sales in FY16
According to sources, there is a proposal to allow 100 per cent Foreign Direct Investment in single brand retail sector "through automatic route" with certain conditions.
The rupee recovered by three paise to close at 67.65 on fresh selling of dollars by banks and exporters amidst a recovery in equities.
The rupee had lost 27 paise to close at more than 5-week low.
The rupee is expected to become more jittery and choppy in the near-term
Good foreign capital inflows failed to restrict the rupee's fall against the dollar
Increased demand from oil importers for the American currency and a weak opening in the domestic stock market also put pressure on the rupee.
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023.
Nearly 100 precious idols of Hindu deities have been stolen in Bihar in last 14 months from various temples, mutts and ashrams, the police have revealed on Friday.
Rupee has gained by 15 paise or 0.24 per cent in two days.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
'In the next one-and-a-half, two months you'll get decent amount of opportunities in the mid-cap and small-cap sector at lower levels.'
A depreciation in the value of the rupee against the dollar, coupled with surging crude oil prices, are likely to push the country's crude oil import bill to over $100 billion in 2008-09, from $77.02 billion in 2007-08, according to industry officials.
A lower opening at the domestic equity market and the dollar's rise against other major currencies overseas also put pressure on the rupee, dealers said.
Forex dealers said weakness in local equities cast a shadow on the rupee. Dollar losing in overseas markets didn't impact the fall of the local currency, they added.
With the rise of global crude oil prices - currently nudging $100 per barrel - the "losses" of the three government-owned oil marketing companies have gone up to a whopping Rs 240 crore (Rs 2.4 billion) per day.
After another day of volatile trade, the rupee today appreciated by seven paise to close at a new one-month high of 59.04 against the dollar as the RBI's liquidity-tightening measures continued to lend support.
In worldwide trade, the US dollar continued its highly bullish trend against all major emerging market currencies
Bucking a strong trend in share market, the Indian rupee on Monday gave up all its initial gains and slipped 18 paise to close at 61.94 against the Greenback on rising dollar demand from importers.
'Even where we are now today, the growth rates are very good, but we need to get to 8-9 per cent growth in the years to come.'
Continuing its rising streak for the third day, gold prices advanced by Rs 130 to Rs 27,470 per ten grams in the national capital on Wednesday on increased buying by jewellers and retailers amid ongoing festive season even as the metal weakened overseas.
The rupee has dropped by 83 paise or 1.24 per cent in three days
The Indian currency had appreciated by a whopping 85 paise in three-day surge
In dull trade, the rupee on Monday ended a mere two paise lower at 60.20 against the US dollar on weak local equities and imported-driven demand for the American currency.
A massive outflows of foreign funds on the back of stricter participatory notes and renewed possibility of Fed lifting US interest rates largely impacted the domestic unit.
The rupee strengthened by 13 paise to 61.67 against the US dollar at close.
Consistent capital inflows and a recovery in local equities helped the local unit to trim initial losses
An Indian Institute of Technology survey says every IIT-ian has created 100 jobs and that every rupee spent on an IIT-ian has 'created an economic impact of Rs 50 at the global level, half of which is India's share'.
Frantic dollar demand from corporates along with an aggressive hedging strategy adopted by importers in the wake of the currency volatility predominately took a toll on the domestic unit despite moves by the central bank to stabilise the currency.
Heavy selling of the US dollar by banks and exporters in the face of renewed capital inflows predominantly kept sentiment highly buoyant
In forward market today, premium for dollar declined on sustained receivings from exporters.
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