|Day's range||70.669 - 71.37|
|52-week range||68.2023 - 74.9000|
The Indian rupee rose as much as 0.9% to its strongest since Aug. 9, while stocks in the country looked set for their best day in more than a decade, after Nirmala Sitharaman lowered the effective corporate tax rate and scrapped the minimum alternative tax for domestic companies. While markets "have reacted positively to FM's announcement, there are concerns over deteriorating fiscal situation", cautioned Rushabh Maru, currency and commodity analyst with Anand Rathi Shares and Stock Brokers.
In a major relief to foreign portfolio investors, FM Nirmala Sitharaman said Super-rich tax will not apply on capital gains arising from sale of any security including derivatives in hands of FPIs.
Top gainers in the Sensex pack in early trade included Yes Bank, HDFC Bank, Maruti, Hero MotoCorp, Kotak Bank, HUL, M&M;, Bajaj Auto and IndusInd Bank, rising up to 2.22%.
Indian rice export prices rose this week on a resurgent rupee, while sluggish demand kept Vietnamese rates near a 12-year low even as the country looks to encourage private investment to make its rice more competitive. Top exporter India's 5% broken parboiled variety rose to around $373-$379 per tonne from $370-$376 a week ago, despite faltering demand from African countries. Buying from west African countries, especially from key buyer Benin, has been faltering, said Nitin Gupta, vice president for Olam India's rice business.
London has overtaken Mumbai, India's financial capital, to become the top trading centre for the domestic currency. The latest triennial survey of currency markets by the Bank for International Settlements showed that while India handles $35 billion in rupee trades each
The Indian rupee on Wednesday opened higher by 28 paise at 71.50 per dollar against previous close 71.78. The gains in the currency have come in as oil fears receded. Oil prices eased today after Saudi Arabia affirmed that the
Benchmark indices lost heavy ground in trade, as investors continued to worry over a prolonged period of pain for the economy owing to elevated crude prices. The Sensex ended the day lower by 642 points, while the Nifty lost 186 points
The yellow metal which eased in price last week following hopes of resumption of US-China talks continued its upward trajectory with an over 1% surge after Saturday's drone attack on Saudi Arabia's oil processing unit. October gold futures prices on
Rupee in Monday's trade opened weak at 71.63, down 71 paise versus previous close of 70.92 per US dollar. The jump in global crude oil price by a record 15% after drones attacked major Saudi facility weighed on the domestic currency.
Mumbai: The Indian rupee appreciated by 26 paise to 70.88 against the US dollar in early trade on Friday as easing trade tensions between US and China strengthened investor sentiments. Forex traders said fall in global crude oil prices and fresh foreign fund inflows also enthused investors. US Treasury Secretary Steven Mnuchin on Thursday said that US wants to make 'meaningful progress' in China trade talks.
Rupee has opened the session higher in trade at 71.01 per dollar against the previous close of 71.13. And later even moved past 71 levels to trade at 70.91 per US dollar. The gains in the home currency come amid
Rupee on Thursday trades higher at 71.40, with a gain of almost 27 paise versus previous close of 71.66 per US dollar. Meanwhile, global sentiment has improved as Trump has delayed levy of tariffs on Chinese goods as trade talks approach
The Indian rupee strengthened for the fourth straight trading session on Monday. The domestic currency opened 5 paise higher at 71.67/dollar as against its previous close of 71.72 a dollar. In the afternoon session, the rupee hit an intraday high of
Mumbai: The rupee appreciated by 14 paise to 71.58 against the US dollar in early trade on Monday as China's easing move and rate cut hopes by the US Fed enthused investors. Forex traders said market investors were optimistic about cut in interest rates by the US Federal Reserve following below-par US jobs data. At the interbank foreign exchange the rupee opened at 71.72, then gained further ground and touched a high of 71.58, registering a rise of 14 paise over its previous close.
Mumbai: The Indian rupee continued its winning momentum for a third session in a row on Friday, rising 12 paise to settle at 71.72 against the US dollar as signs of easing trade tensions between the US and China enthused investors. On a weekly basis, the domestic currency, however, lost 30 paise to the US dollar. The Indian currency has appreciated by 67 paise in the last three trading sessions.
In Friday's trade, rupee opened unchanged at 71.85 per dollar against its previous closing The Indian rupee opened flat at 71.85 per dollar on Friday versus previous close 71.84. In Thursday's trade, rupee ended with gains as risk sentiment improved
Gold in the international market has lost as the equities world over have surged as the tensions such as the UK crisis and the Hong Kong unrest has settled a bit. The surge has come after the Chinese government said that
A plunging rupee weighed on Indian rice export prices this week while a strong baht kept rates for the grain from flood-hit Thailand near a one-year high and more expensive than its Asian competitors. "Buyers from the Philippines haven't placed any new deals this week ahead of a harvest there later this month," a trader based in Ho Chi Minh City said.
Rupee in Thursday's is trading higher at 71.94 versus previous close of 72.12 per dollar. The day started with gains in the rupee, which touched an high of 71.86 at the opening and later dropped. The government on Wednesday
After gaining about 2% following the incumbent government's victory in the general election this May, the rupee has lost nearly 6% since a July 5 budget when a surcharge on foreign investments was introduced.
The Indian rupee will not regain ground lost against the dollar in the coming year, according to strategists polled by Reuters, who believe a recent rollback of a surcharge on foreign investments will have no impact on the currency. After gaining about 2% following a sweeping victory in the general election by the incumbent government late in May, the rupee has lost nearly 6% since a July 5 budget when a surcharge on foreign investments was introduced. The Aug 29-Sept 4 Reuters poll of over 50 strategists predicted the currency will trade around 72 per dollar over the coming year.
The home currency in Wednesday's trade opened mildly higher at 72.19 versus the previous one-year low of 72.40. The rupee was battered on account of dismal GDP number which might prompt the RBI to mull over further rate cuts in
Mumbai: The rupee today dropped sharply by 97 paise to more than nine-month low of 72.39 against the US dollar as heavy sell-off in the domestic equity market, weak macro environment and a stronger greenback kept investors edgy. The Indian currency came under pressure after official data released on Friday showed that India's GDP growth fell to an over six-year low of 5 per cent in the June quarter. The rupee opened lower at 72 to the US dollar at the interbank foreign exchange market and lost further ground to touch a low of 72.40 against the dollar.
Gold and silver prices in India remained closer to their all-times as the rupee fell to its lowest in 2019 on Tuesday. Weak GDP data, released on Friday after market hours, and the US dollar broad strengthening weighed on the domestic