Mumbai: The rupee on Friday weakened further by 10 paise to 55.69 against the dollar in early trade on the Interbank Foreign Exchange due to appreciation of the US currency overseas. Dealers attributed the rupee's fall to dollar gains against other currencies overseas but a higher opening of the domestic equity market capped rupee's losses to some extent.
The rupee had lost 13 paise to close at a fresh six-month low of 55.59 against the dollar after dropping to eight-month low of 56.01 intra-day in Thursday's trade.
Meanwhile, the BSE benchmark Sensex was up by 139.39 points, or 0.71 per cent, at 19,813.72 in early trade today.
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10:18 AM, May 24, 2013
Mumbai: Benchmark indices closed firm, riding a late surge, but finished roughly 3 per cent lower week-on-week. Brokers say the mood is cautious after the global sell-off on Thursday, and back home, a mixed bag of quarterly earnings. The Sensex closed at 19704, up 30 points over the previous close, after touching a low of 19568.49 earlier in the day. The Nifty ended 16.50 points higher at 5983.55. Tata Power,...
09:37 AM, May 24, 2013
Mumbai: The rupee on Wednesday declined by a hefty 37 paise to trade at a fresh six-month low of 55.83 in early trade at the Interbank Foreign Exchange market on sustained dollar demand and strengthening of the US currency overseas. Forex dealers said besides dollar's gains against euro and other currencies in the overseas markets, sustained dollar demand from importers and some banks and a lower opening in the stock...
09:53 AM, May 23, 2013
Mumbai: Section of traders in Maharashtra on Monday night agreed to call off their prolonged agitation protest against the Local Body Tax (LBT) after a meeting with Chief Minister Prithviraj Chavan here. Chavan held lengthy discussions with traders, which ended late on Monday evening, after which some of the participants at the meeting announced that the traders would be calling off the stir. "Traders in Pune, Pimpri Chinchwad, Navi Mumbai...
10:10 AM, May 21, 2013
Mumbai: After more than three weeks, Mumbai traders on Monday called off their strike against Local Boy Tax (LBT). The strike was called off after a meeting took place between Chief Minister Prithviraj Chavan and protesters. All shops will be opened on Tuesday. Traders, wholesalers and manufacturers launched an indefinite strike against the Maharashtra government's LBT which replaces octroi. Chavan held lengthy discussions with traders, which ended late on Monday...
11:13 PM, May 20, 2013
Dubai: Seeking to enhance bilateral trade and cooperation, Finance Minister P Chidambaram on Sunday held discussions with Qatar's Emir and the Minister of Economy and Finance, as he asserted the robustness of the Indian economy and its vast potential for the gulf country's firms. Chidambaram, who is on an official visit to Qatar, met with the Emir of Qatar Sheikh Hamad bin Khalifa Al Thani and the country's Minister of...
12:14 AM, May 20, 2013
Washington: Opening up the prospects of export of shale gas to energy starved India, the US today granted conditional authorization to export domestically produced liquefied natural gas (LNG) to nations that do not have Free Trade Agreement (FTA) with it. In a decision, which has major implications for India, the Department of Energy announced that that it has conditionally authorized Freeport LNG Expansion, LP and FLNG Liquefaction, LLC (Freeport) to...
11:10 AM, May 18, 2013
Mumbai: The rupee on Wednesday rose by five paise to 54.76 against the dollar in early trade at the Interbank Foreign Exchange on selling of the US currency by exporters. Besides, a higher opening in the domestic equity market and strengthening of euro against the dollar overseas supported the rupee, forex dealers said. The rupee had lost eight paise to close at an over 1-month low of 54.81 against the...
10:12 AM, May 15, 2013
Mumbai: Tata Steel Ltd shares fell as much as 2.5 per cent on Tuesday morning after it said it will book a $1.6 billion impairment charge for the financial year ended March 31. The company said it is taking the charge due to weak economic and market conditions in Europe. Tata Steel shares were down more than 2 per cent as of 9:30 am. The steel maker made the announcement...
09:45 AM, May 14, 2013
Mumbai: Shares of jewellery manufacturers on Monday gained up to 7.5 per cent in an otherwise weak stock market amid hopes of pick-up in sales of gold jewellery and coins on Akshaya Tritiya. Thangamayil Jewellers soared by 7.49 per cent, Tribhovandas Bhimji Zaveri (3.19 per cent), Tara Jewels (3 per cent), Titan Industries (1.24 per cent), Rajesh Exports (1.84 per cent), Shree Ganesh Jewellers (1.84 per cent). Akshaya Tritiya is...
01:52 PM, May 13, 2013
Mumbai: The rupee on Monday lost 15 paise to hit a fresh over one-month low at 54.95 against the dollar in early trade on the Interbank Foreign Exchange market due to appreciation of the US currency against other currencies in the global markets. The rupee sentiment was hit by selling in commodities that was triggered by a strong dollar, which rose to a fresh four-and-a-half-year peak against the yen on...
09:51 AM, May 13, 2013
Mumbai: Key equity benchmarks plunged 2 per cent on Monday, the biggest single day fall in more than a year, with brokers attributing the crash to profit taking after the recent run up. Signs of a recovery in the US economy also made investors jittery as they feel a portion of global liquidity flows could ease as the Federal Reserve starts tightening its monetary policy. The BSE Sensex closed at...
09:34 AM, May 13, 2013
Mumbai: In a good news for people of Mumbai, retailers called off their strike against the Local Body Tax on late Saturday and said they were ready to talk to the government. The announcement came even as the city struggled with shortage of supplies due to the three-week long strike. Supporting the agitation by Maharashtra traders against the newly introduced Local Body Tax which replaces octroi, Indian Merchants' Chamber had...
11:26 PM, May 11, 2013
Mumbai: Mumbai's bustling markets on Thursday wore an empty, deserted look. Since Monday, over one lakh traders in the city have shut shop to protest against the Local Body Tax (LBT) that the Maharashtra government has introduced to replace octroi. Traders say that the protest has caused a loss of Rs 75,000 crore so far. But they are not backing down yet. With talks with the government failing, they have...
07:37 PM, May 09, 2013
Mumbai: The rupee traded marginally up by one paise to 54.15 against the US dollar in early trade at the Interbank Foreign Exchange on Thursday on sustained selling of the American currency by exporters. Strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market further supported the rupee. The rupee had closed marginally lower by two paise at 54.16 against the dollar in...
10:11 AM, May 09, 2013
Mumbai: Markets in Mumbai have been shut for days now as traders fight against the controversial Local Body Tax. It has been estimated that the strike has incurred a loss of almost Rs 75,000 crore and it still counting. From grocery stores to restaurants to apparel stores, the bandh was near total. Around 40 traders were detained for holding a rally without permission at Lohar Chawl. But that was no...
08:41 AM, May 09, 2013
On Board Special Aircraft: India will participate in the upgradation of strategically crucial Chahbahar port in Iran, that gives access to Afghanistan, and the issue will be discussed when External Affairs Minister Salman Khurshid holds talks with his counterpart Ali Akbar Salehi. "We have taken a decision. We will collaborate for development of the port," Khurshid told reporters accompanying him on a three-day visit to Iran. He said the Cabinet...
02:30 AM, May 04, 2013
New Delhi: Ways to increase commercial links with sanctions-hit Iran to reduce huge bilateral trade imbalance will be high on the agenda when External Affairs Minister Salman Khurshid travels to Tehran on Friday on a three-day visit. India's participation in the upgradation of Iran's Chahbahar port, which gives access to Afghanistan, will also be among a host of issues expected to figure in the talks that Khurshid will have with...
03:25 AM, May 03, 2013
Mumbai: Continuing its gains for the third consecutive session, the rupee on Thursday rose by 13 paise to 53.67 against the dollar in early trade on the Interbank Foreign Exchange market, on sustained selling of the US currency by exporters. Forex dealers said euro's gains against the dollar after the US Federal Reserve opted to keep its easy-money policies in place on the back of lacklustre economic data, also supported...
10:16 AM, May 02, 2013
New York: One World Trade Center already is New York's tallest building. And when the last pieces of its spire rise to the roof - weather permitting - the 104-floor skyscraper that replaces the fallen twin towers will be just feet from becoming the highest in the Western Hemisphere. The Port Authority of New York and New Jersey says the spire pieces plus a steel beacon will then be lifted...
01:15 PM, Apr 29, 2013
