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Share market today: The Sensex and Nifty posted their biggest weekly decline in over two years on Friday after, in a surprise move, the Reserve Bank of India (RBI) today kept the repo rate unchanged at 6.5%. The announcement
Indian rupee closed nearly 15 paise higher at 66.54 against the US dollar at the forex market on Monday on account of increased selling of American currency by banks and exporters.
Indian rupee strengthened further and closed 12 paise up at 66.46 against dollar after the Reserve Bank of India reduced the key interest rates by 25 basis points
Indian rupee closed 3 paise higher at 66.58 on Monday following selling of the American currency by banks and exporters amid firm domestic and global cues.
Indian rupee settled nearly 5 paise lower against the US dollar on Tuesday as traders turned cautious ahead of two key central bank policy reviews in the United States and Japan
Analysts warn the rupee - already Asia's worst performing currency against the U.S. dollar this year - continues to look vulnerable ahead of September, when dollar term deposits that India raised from citizens abroad in 2013
Sri Lankan rupee forwards were little changed on Tuesday as demand for dollars from importers increased after a sharp rise in the local currency over the last few days following conversions by foreign investors and exporters,
Besides, disappointing macro economic data with industrial production contracting by 0.8 per cent in April and the retail inflation surging to 5.76 per cent in May also weighed on the domestic unit.
The Indian rupee was trading lower by 16 paise at 66.87 against the US dollar in early trade today on higher demand for the American currency from importers and banks.
Forex dealers said weakness in dollar against other currencies overseas on expectations that the US Federal Reserve will keep benchmark interest rates low for longer also supported the rupee.
Forex dealers said besides continued selling of the greenback by banks and exporters, strong foreign fund inflows and a higher opening of the domestic equity market backed up the rupee.
With limited scope for rollovers, the forthcoming FCNR-B deposit redemptions beginning September through November will lead to increased volatility in the money markets due to maturity mismatches causing wild swings in forex
The country's foreign exchange reserves declined by USD 711.6 million to USD 360.193 billion in the week to May 27 due to fall in foreign currency assets, Reserve Bank said today.
Forex dealers said besides increased selling of the greenback by banks and exporters, a higher opening in the domestic equity market backed up the rupee at the Interbank Foreign Exchange.
Rupee headed to a one-week low against the dollar on Wednesday following a report that RBI Governor Raghuram Rajan did not want to remain at the central bank.
The Indian rupee continued its fall for the third day against the US currency and ended lower by 19 paise at 67.45 on sustained dollar demand despite robust macro data.
The Indian rupee recovered by 5 paise to 67.11 against the dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the US currency by banks and exporters.
Breaking its three-day rising trend, the rupee retreated from its one-week high to close at 67.16 against the US currency on fresh bouts of dollar demand from importers.
The rupee today strengthened for the second consecutive session against the dollar by rising 16 paise to 67.17 on sustained selling of the American currency amid a continued rally in domestic equities.