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 up 8 paisa at 59.30 against US dollar on RBI aid

Jun 04 2014, 16:10 IST
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Indian rupee up 8 paisa at 59.30 against US dollar. Indian rupee up 8 paisa at 59.30 against US dollar.
SummaryMeasure to allow foreign investors to participate in currency derivatives to attract dollar inflows.

Indian rupee was trading at 59.30/31 against US dollar versus its previous close of 59.3850/3950 on exporter dollar sales.

RBI measure announced on Tuesday allowed foreign investors to participate in currency derivatives to attract dollar inflows.

Reserve Bank of India's steps to liberalise foreign money flows are seen as indicators of its confidence on the external sector and the rupee.

The RBI relaxed rules on overseas remittances, allowing Indians to move up to $125,000 from $75,000 after the exchange rate stabilised.

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