It has been more than 40 hours since five-year-old Mahi fell into a borewell in a village in Manesar, Haryana. Rescue efforts are on and are said to be in their last leg. ...
11:16 PM, Jun 22, 2012
Oil Minister Jaipal Reddy said that the government was watching the rupee's movement closely. The Indian currency fell to an all-time low of 57.12 against the US dollar on Friday. ...
07:59 PM, Jun 22, 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
Mumbai: The rupee on Friday breached 57-mark against US dollar to a new record low. Hitting its lowest since a record low against the dollar on May 31, the Indian currency fell as demand for dollar increased from banks and importers. The RBI's decision to keep rates unchanged has also put pressure on the rupee. On Thursday, the rupee had plunged to Rs 56.87 against the US dollar on increased...
12:18 PM, Jun 22, 2012
Mumbai: The rupee hit a record low against the dollar for a second consecutive session on Friday to approach the psychological 57 mark, hurt by dollar demand from oil firms and gold importers, as well the broad risk-off sentiment. Traders did not spot intervention from the Reserve Bank of India so far, but most expect the central bank to step up dollar sales if the rupee ventures close to the...
09:24 AM, Jun 22, 2012
Mumbai: Falling for the fourth day on Thursday, the rupee tumbled to new record low of 56.57 against the US dollar on increased capital outflows from equity markets and rising demand from importers amid the US Fed indicating weak growth prospects for the American economy. After a weak start at 56.40, the rupee dropped 42 paise to hit new low of 56.57 per dollar at 1323 hrs - minutes after...
02:47 PM, Jun 21, 2012
Mumbai: Testing times are ahead for equity investors serious about investing in Indian equities. With credit ratings agency Fitch revising our outlook to 'negative', sentiment has turned sour, not just on a slew of weak economic data but also due to policy inertia and allegations of corruption by the very people we elect to power. But whatever the news, traders continue to have a long bias on the market right...
09:38 AM, Jun 21, 2012
Mumbai: The rupee fell on Thursday, coming close to a record low against the dollar, as risk assets fell on disappointment about the scope of US Federal Reserve's bond purchases and after HSBC factory data from China showed a contraction. Traders are on watch for any potential intervention from the RBI to defend the currency. At 9.06 am, the rupee was at 56.34/38 to the dollar versus its 56.15/16 close...
09:19 AM, Jun 21, 2012
Mumbai: Rupee was trading at 55.86/87 after rising to 55.82 intraday high versus its 55.95/96 close on Tuesday. Euro supported on hopes the US Federal Reserve will adopt further monetary stimulus. Senior dealer with private bank says some dollar selling from state-run banks seen, though not expected to be tied to any potential intervention. Low volumes magnifying price action, traders add. Local stocks now up 0.4 per cent. ...
09:17 AM, Jun 20, 2012
Mumbai: The rupee fell to as low as 56 per dollar, near the session low of 56.04 in the previous day, as global risk assets remained under pressure and a day after the RBI disappointed domestic markets by keeping monetary policy unchanged. Traders say the rupee is vulnerable to fall to a record low of 56.52 to the dollar hit on May 31 should the global risk environment deteriorate, setting...
09:50 AM, Jun 19, 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
Mumbai: The rupee fell in opening trade on Tuesday as global risk assets reversed gains given the bailout of Spain's banks gave way to continued concerns about the euro zone, including the outcome of elections in Greece. At 9.03 am, the rupee was at 55.78/80 to a dollar, compared to its 55.74/75 close. ...
09:47 AM, Jun 12, 2012
New Delhi: The depreciating rupee has no doubt cast a cascading effect on the economy but the worst-hit are Indian students studying abroad or those planning for higher studies in foreign universities as they have to shell out more money compared to what it was required a year ago. As the rupee has weakened by about 20 per cent since the beginning of the calender year, overseas education costs have...
10:58 AM, Jun 10, 2012
Mumbai: The Reserve Bank on Friday permitted NRIs to send remittances more frequently, a step to boost foreign currency inflows and check rupee fall. Resident Indians are now allowed to receive as many as 30 remittances from NRI friends and relatives during a year as against 12 earlier, according to a latest RBI circular. Analysts said RBI decision would help raise foreign exchange reserves. In the circular addressed to authorised...
02:50 AM, Jun 09, 2012
Mumbai: The rupee opened weaker against the dollar on Friday, retreating from a 2-week high in the previous session. Investors dumped riskier assets on reduced hopes for more monetary stimulus by the Federal Reserve. At 9:03 am (0331 GMT), the partially convertible rupee was at 55.25/27 per dollar, weaker than its previous close of 54.94/95. ...
09:44 AM, Jun 08, 2012
Mumbai: The rupee gained against the dollar on Thursday as hope for US monetary stimulus pushed up global risk assets, but fell short of breaching the 55 mark as mild greenback sales by a few custodian banks were absorbed by oil companies. The rupee has gained for three consecutive sessions, bouncing back from a record low of 56.52 hit a week ago, though few analysts expect a sustained rebound ahead...
10:42 AM, Jun 07, 2012
Mumbai: The rupee strengthened further on Thursday afternoon, breaking below the 55 per dollar mark as inflows from custodian banks continued with equity markets staying firm, while a foreign bank was spotted selling dollars, traders said. At 1:07 pm, the partially convertible rupee was at 54.99/01 per dollar, after hitting 54.9850, its strongest since May 22 and stronger than its previous close of 55.36/37 on Wednesday. Traders said gains in...
09:51 AM, Jun 07, 2012
Mumbai: The rupee on Wednesday appreciated by 11 paise to 55.53 against the US dollar in early trade on the Interbank Foreign Exchange, following a higher opening on the stock market amid selling of the American currency by exporters. Dealers said besides higher opening in local equities and selling of dollars by exporters, euro's gains against the American currency mainly supported the rupee. In a volatile trade, the rupee had...
09:51 AM, Jun 06, 2012
New Delhi: Corporate India expects the rupee to weaken more, with a majority of 440 respondents in an ING Vysya survey of 220 organisations predicting the rupee could fall to as low as 58 to the dollar in the near-term. Of the respondents, 15 per cent did not rule out the rupee breaching below 60 to the dollar, ING Vysya says. The majority in the survey say RBI rules relaxing...
04:46 PM, Jun 04, 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
