Mumbai: The rupee posted its first gain against the dollar in four sessions on Thursday, recovering from a new record low earlier in the session, after the Reserve Bank of India (RBI) governor did not rule out selling dollars directly to oil importers. Making dollars available for oil companies would remove a sizeable source of demand for the greenback from the market, and help support the rupee, which has hit...
07:26 PM, May 24, 2012
Mumbai: The rupee was broadly flat against the dollar on Monday tracking a mild recovery in risk assets after G8 leaders over the weekend backed keeping Greece in the euro zone and vowed to take all steps needed to combat financial turmoil. The rupee was last trading at 54.42/45, unchanged against its Friday close of 54.42/44. The currency had hit a new life low of 54.91 on Friday. ...
12:10 PM, May 21, 2012
As the Indian rupee hit an all time low, BJP leader Murli Manohar Joshi asked the government what was being done to control the situation. ...
03:45 PM, May 16, 2012
New Delhi: As the rupee touched a record low, the Opposition on Wednesday questioned the government in the Lok Sabha on the steps being taken to tackle the situation as it feared that there could be a repeat of 1991, when India saw severe balance of payments problem and even had to mortgage gold. "The crisis in our economy is growing. Are we heading towards 1991," senior BJP leader Murli...
02:03 PM, May 16, 2012
Mumbai: The Indian rupee rebounded early on Friday, a day after the central bank curbed speculation in the forwards market after the currency had plumbed record lows for three days in a row. At 9:21 am (0351 GMT), the rupee was at 52.63 per dollar, 1.8 per cent stronger than its previous close of 53.64/65. It strengthened to as much as 52.50 in early deals. On Thursday, it had touched...
09:33 AM, Dec 16, 2011
Mumbai: The rupee hit a record low for the fourth straight session on Thursday as concerns over the domestic economy and risk aversion globally raised fears of more capital outflows from Asia's third largest economy. At 12:51 PM, the rupee was at 54.2000/2050 per dollar, after hitting an all-time low of 54.30 in early trade. The partially convertible currency is down nearly 20 percent from its July high, with the...
09:12 AM, Dec 15, 2011
Mumbai: The rupee hit another record low on Wednesday as worse-than-expected inflation data and the US Fed's decision to refrain from new economy-boosting measures heightened concerns that capital outflows from riskier economies could accelerate. At 12:40 pm, the rupee was at 53.62/63 to the dollar, after hitting an all-time low of 53.75, taking the drop since its July high to 18.4 percent. "The bearish sentiment is very strong and there...
09:34 AM, Dec 14, 2011
New Delhi: The fast deteriorating value of the Indian rupee is spelling good news for some and bad news for others. With industrial growth at an all-time low, the fall in the rupee could not have come at a worse time. Student Sanjana Prakash has been preparing for studies abroad for one year. But now she is having second thoughts. Sanjana is worried that her dream of acquiring a foreign...
09:18 AM, Dec 14, 2011
Mumbai: Describing the sharp depreciation of the rupee as "disruptive", the Reserve Bank of India (RBI) on Tuesday said any action to arrest the fall will be guided by medium-term considerations. "We don't really have a target or a rate in mind. It's moving as per market dynamics. It (fall in the value of the rupee) is disruptive, there is no question. There (will be) impact on our import bill,...
12:35 PM, Nov 22, 2011
Mumbai: The rupee slid past 52.2 against the dollar in opening trades on Tuesday, dropping to its lowest level in history, as broad gains in the dollar overseas and sustained demand from domestic oil refiners weighed. At 9:10 am (0340 GMT), the partially convertible rupee was at 52.48/50 per dollar, after touching an all-time low of 52.50, and 0.6 per cent weaker than its previous close of 52.1550/1650. At the...
09:42 AM, Nov 22, 2011
A sudden wave of volatility in the Indian rupee has increased the degree of risk for companies and the financial system as a whole. Over the past three months, the rupee has fallen 12 per cent against the dollar and could even slip to the 52 mark if European debt worries persist. Though many analysts foresee the currency clawing back to around 46, they believe that will take a while....
11:00 AM, Oct 11, 2011
Mumbai: The rupee fell one percent to its lowest in more than two years on Thursday as the dollar climbed to seven-month highs against major currencies after the Federal Reserve said there were "significant downside risks" to the economy but stopped short of bold monetary easing. At 9:01 am (0331 GMT), the partially convertible rupee was at 48.84 per dollar, after touching 48.85 - a level not seen since September...
11:24 AM, Sep 22, 2011
Mumbai: India's benchmark gold futures on the Multi Commodity Exchange extended gains by more than 3 per cent on Tuesday morning and hit a new peak of 26,198 rupees per 10 grams, tailing a rally in the world market and on a weak rupee. The October contract was trading 3.16 per cent higher at Rs 26,041. It has risen over 11 per cent in August. Rupee fell sharply on Tuesday...
10:43 AM, Aug 09, 2011
New Delhi: Within three months of the announcement of the new symbol for the Indian Rupee, it has been officially made a part of the Unicode Standard. For widespread usage, the new Rupee symbol had to be accepted by the Unicode Consortium's Unicode Technical Committee that is responsible for the development and maintenance of the Unicode Standard, including the Unicode Character Database. The Unicode Consortium, on October 11, announced the...
02:36 PM, Oct 12, 2010
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