Mumbai: The rupee declined by 5 paise to 55.49 against the dollar in early trade on Tuesday, extending Monday's losses, on the Interbank Foreign Exchange on continued demand for the American currency. Besides dollar demand from oil importers, a lower opening in the equity market also put pressure on the local unit, forex dealers said. They, however, added that dollar's weakness against euro and other currencies overseas restricted the rupee's...
09:54 AM, Sep 11, 2012
New Delhi: Delhi Police on Saturday claimed to have smashed a fake currency racket here after arresting six persons, including four women, allegedly with counterfeit notes having a face value of Rs 1.92 lakh. The arrested have been identified as Ayub Miyan (33), Shrikant (23), Sabira Khatoon (30), Munni Khatoon (30), Noor Nisa (26) and Asma Khatoon (40), all residents of Bihar. The arrests came after police received an input...
10:09 PM, Sep 08, 2012
Mumbai: Extending losses for the third day in a row, the rupee depreciated by 19 paise to 55.88 against the dollar in early trade on Tuesday on the Interbank Foreign Exchange on continued demand for the American currency. Besides month-end dollar demand from oil importers, a lower opening in the equity market and euro's weakness against the US dollar overseas also put pressure on the rupee, forex dealers said. Meanwhile,...
10:53 AM, Aug 28, 2012
Hyderabad: Task Force sleuths on Monday arrested three persons, including a former reporter, for involvement in a fake currency note racket. The trio planned to lure innocent people to exchange their genuine currency notes with fake notes in the ratio of 1:3. Police seized fake currency notes in 500-rupee denomination purported to be of the value of Rs 2 lakh. The accused are G Anji Reddy (27), real estate businessman...
12:44 PM, Jul 24, 2012
New Delhi: Two women nationals of Luxembourg allegedly paid their 'visa-on-arrival' fee at the IGI airport in New Delhi with fake Indian currency notes, police said on Friday. The two women, along with a child, arrived at the IGI airport on the intervening night of July 14 and 15 and got their 'Visa-on-Arrival' after paying the fee to the immigration officer, a complaint filed by the official with police said....
10:48 PM, Jul 20, 2012
Mumbai: The rupee gained 43 paise to trade at 54.88 against the US dollar in early trade on Tuesday at the Interbank Foreign Exchange as the American currency weakened against euro and other currencies overseas. Dollar selling by exporters and banks, amid a higher opening in the domestic equity market also supported the rupee, dealers said. Euro rose against the US dollar overseas after the International Monetary Fund said it...
10:14 AM, Jul 17, 2012
New Delhi: Seeking to spread awareness among public about fake notes, the Reserve Bank has launched a website explaining ways to detect counterfeit notes. With a tagline 'Pehchano Paise Ki Boli, Kyunki Paisa Bolta Hai', the website - www.paisaboltahai.rbi.org.in - gives visual presentation with pointers on currency notes of 10, 20, 50, 100, 500 and 1,000 rupee denominations. Consumers have the option to download posters of these currency notes, which...
10:29 AM, Jul 08, 2012
Mumbai: The rupee opened stronger for the fourth straight session on Tuesday buoyed by positive investor sentiments on hopes long-stalled reforms will pick up pace after recent clarifications on retrospective tax. Equities are poised to open higher supported by regional peers. At 9.02 am, the rupee was at 55.40/45 to a dollar, as against Monday's close of 55.43/44. ...
10:20 AM, Jul 03, 2012
Mumbai: The rupee hit a record low against the dollar for a second consecutive session on Friday and posted its worst weekly fall in nine months, hurt by dollar demand from oil firms and gold importers as well as the broad risk-off sentiment. Traders said the Reserve Bank of India stepped in to prop up the currency and prevent a much sharper fall, estimating dollar sales of $250-300 million, slightly...
06:24 PM, Jun 22, 2012
The rupee gained in early trade on Monday as risk assets rallied after Greece elections gave a slim majority to pro-bailout parties, with the focus shifting to the central bank policy decision later in the day. The Reserve Bank of India (RBI) is widely expected to cut interest rates by at least 25 basis points and may also cut the cash reserve ratio. At 9:07 am local time, the rupee...
10:19 AM, Jun 18, 2012
Chandigarh: Eight Chinese nationals have been taken into custody in Himachal Pradesh. The Chinese nationals were detained by the Himachal Police from the Jongsar monastery. The police said that they were under surveillance for several days after their movements were found suspicious. Apart from Chinese currency, Rs 30 lakh have also been recovered from them. The police say the Chinese nationals were on a tourist visa, but were working as...
09:02 AM, Jun 13, 2012
Bangalore: The police in Karantaka's mining hub of Bellary have found crores of crushed currency notes in a plywood factory. The currency was stored in 300 bags. The factory owner claims that he brought this consignment from Indore for making plywood a few months back and had no clue about the money. A police team has left for Indore to source the trail. The police have not yet filed any...
01:19 PM, Jun 12, 2012
Mumbai: The rupee rose on Monday to its highest against the dollar in a week, despite a steep sell-off in global risk assets, on the back of dollar sales by corporates and exporters, as well as unwinding of long-dollar positions by banks. The recovery comes after the rupee had hit a string of record lows against the dollar in the second half of May, with the latest on Thursday when...
03:05 PM, Jun 04, 2012
Mumbai: Investors awaiting divine intervention as they saw their wealth erode all through the month of May finally had something to cheer for. India's monsoon rains are likely to hit the southern Kerala coast in two days, a top weather official said on Monday, easing concerns about the onset delay threatening plantings of summer crops such as rice, soybean and cotton in the farm-dependent economy. The positive news helped the...
09:23 AM, Jun 04, 2012
New Delhi: India is planning to seek technological cooperation of the US to check the flow of fake Indian currency notes the way Washington does to put a stop of circulation of counterfeit USD. Impressed by the American technology, which has a database of each counterfeit US dollar - photograph, from where it originated, its route of travel and people behind its circulation - India is all set to ask...
09:06 PM, Jun 03, 2012
Mumbai: The rupee breached the 56-mark against US dollar to touch a new low on Wednesday weighed down by global risk aversion, with the Reserve Bank of India's intervention earlier in the day seen as too mild to prevent further falls. At 12:40 pm, the partially convertible rupee was at 55.98/99 per dollar, after hitting a new record low at 56, sharply below its Tuesday's close of 55.39/40. The euro...
01:01 PM, May 23, 2012
Mumbai: Rupee resumes fall, now at 55.82/83 per dollar, moments after hitting a new record low at 55.84 to approach the key psychological level of 56. Fall comes despite RBI intervention earlier in the session pushed rupee to 55.52. Traders call the action 'mild', say they expect further falls in rupee. Traders expect some dollar selling from exporters to emerge around 55.80 levels. The rupee fell as much as to...
09:29 AM, May 23, 2012
Mumbai: The rupee made a new low of 54.91 against $, marking its third consecutive record low in a row vs 54.49/50 last close. Traders say 55 is the next key psychological resistance, breaching it could spark deep concerns. Global risk aversion weighing heavily on rupee; local shares down 1.2 percent. Risk aversion made a strong comeback with Asian stocks showing deep cuts and euro falling to a four-month low....
09:29 AM, May 18, 2012
New Delhi: The Delhi Police has told a court that a consignment of fake currency notes with a face value of over Rs 1.18 crore, seized by it in January, had been sent from Pakistan at the behest of its intelligence agency and banned terror outfit Lashkar-e-Taiba (LeT) to destabilise the Indian economy. The police made this claim in its charge sheet, filed in the court of Chief Metropolitan Magistrate...
02:30 PM, Apr 15, 2012
Mumbai: The Reserve Bank of India (RBI) has eased its overseas direct investment norms by waiving the need for Indian entities to seek its approval to open foreign currency accounts abroad. The norm has been liberalised to provide operational flexibility to Indian entities, the central bank said in a statement on Monday. However, all other norms required to open, hold and maintain foreign currency accounts for overseas investment remain unchanged,...
01:26 AM, Apr 03, 2012
