Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Indian rupee down 13 paise against US dollar in early trade

Jul 07 2014, 10:24 IST
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The dollar clung on to most of last week's payrolls-inspired gains early on Monday after a holiday in the United States all but ensured a moribund start to the week. Reuters The dollar clung on to most of last week's payrolls-inspired gains early on Monday after a holiday in the United States all but ensured a moribund start to the week. Reuters
SummaryThe Indian rupee lost 13 paise to 59.85 against the US dollar in early trade.

The Indian rupee lost 13 paise to 59.85 against the US dollar in early trade today at the Interbank Foreign Exchange market due to demand for the US currency from importers.

Forex dealers said strengthening of the dollar against other currencies in global markets, boosted by the US jobs report, also put pressure on the rupee but a higher opening of the domestic equity market, limited the fall.

The domestic currency had closed higher by just one paisa at 59.72 on Friday on alternate bouts of demand and supply.

Meanwhile, the benchmark BSE Sensex breached the 26,000 mark for the first time by surging 137.29 points, or 0.52 per cent, to trade at a new record-high of 26,099.35 in opening trade today.

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