14
Thursday
December 2017
9:42 AM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
Rupee halts 2-day fall; capital inflows come to rescue
 
Mumbai, Jul 26 (PTI) Snapping its two-day downtrend, the rupee today managed to cross over to positive territory by finishing at 64.37, up by a marginal one paisa in a cautious trade on a day domestic equity markets scripted history.

Besides, weak US dollar overseas along with abundant capital inflows into domestic equities largely supplemented strength to the local currency.

Currency traders and speculators preferred to stay on the sidelines as attention shifted towards the US Federal Reserve's policy statement with regards to rate hikes.

The home currency resumed lower at 64.43 as compared to the Tuesday's closing of 64.38 at the Interbank Foreign Exchange (forex) market.

It weakened further to hit an intra-day low of 64.45 in late morning deals due to month-end dollar demand from importers.

However, reversing its downtrend, the domestic unit staged a smart recovery towards the fag-end trade to touch a fresh high of 64.35 before settling at 64.37, showing a gain of one paisa.

It had lost 6 paise in the last two days.

The RBI, meanwhile, fixed the reference rate for the dollar at 64.4208 and for the euro at 74.9214.

In cross-currency trades, the rupee remained under immense pressure against the pound sterling and finished at 84.07 from 83.96 per pound but rebounded against the euro to end at 74.96 as compared to 75.05 earlier.

The local currency also firmed up further against the Japanese yen to close at 57.61 per 100 yens from 57.77 yesterday.

The US dollar is lacking momentum ahead of the Federal Open Market Committee (FOMC) meet outcome and traded little changed against major world currencies while US political woes continue.

Unwinding of dollar short positions by speculative traders ahead of the policy event also supported the rupee.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 270.77 crore yesterday.

It was an historic moment for Indian markets as confident investors propelled the NSE-benchmark Nifty to close above the historic 10,000 mark for the first time, while the nation's most widely watched stock index Sensex conquered another record high of 32,382.46.

The stock markets have been on a roll and hitting multiple records this year amid optimism over government reform measures and expectations of healthy quarterly results.

On the global front, the dollar struggled to regain ground against a basket of currencies ahead of FOMC meet outcome, with markets paying close attention to details of when and how the US Federal Reserve will start reducing its USD 4.5 trillion balance sheet.

The dollar index, which measures the greenback against a basket of currencies, was down at 93.92 during Asia trade.

In forward market today, premium for dollar edged lower owing to persistent receipts by exporters.

The benchmark six-month premium payable in December eased to 123-125 paise from 124-126 paise and the far-forward June 2018 contract also moved down to 268.5-270.5 paise from 270-272 paise.

On the International commodity front, crude prices rallied for the third-straight session on Wednesday to trade above the psychological USD 50-mark following a fall in US inventories bolstered expectations that the long over-supplied market was moving toward balance.

The brent crude futures were up 17 cents to USD 50.37 a barrel in early Asian trade. Both contracts rose to near eight-week highs earlier in the session.


Stocks start with caution, macro data ahead
Govt in talks with Singapore for cruise connectivity: Gadkari
Sensex zooms 195 pts on strong global cues
Bitcoin drops after dramatic gains ahead of futures launch
Market takes a poll position, Sensex surges 301 pts
'Exports from Rajasthan to increase three-fold by 2022'
Ensure job creation with focus on rural unemployed: Mukherjee
China Development Bank Files Insolvency Plea Against Reliance Telecom
Sensex down 100 pts as RBI policy decision looms
Sensex ends lower ahead of RBI policy call
Sensex recovers 140 pts on positive GDP data
US dollar ends higher against rupee
Fiscal deficit crosses 96% of FY18 target at Oct-end
Gold slumps Rs 120 on lacklustre demand, global cues
Achieving 10pc growth rate is challenging: Jaitley
Sensex gains 68 pts in early trade on global cues
Bitcoin hits new record high of $9,687, up almost 20% since Friday
Reliance resumes JioPhone sale, starts round 2 of phone war
Sensex drops 107 pts as S&P keeps sovereign rating unchanged
No proposal to withdraw cheque book facility: FinMin
KERALA NEWS
Jisha murder case: Punishment on Thursday
 (Kochi, Dec 13, 2017, DG): The Ernakulam Principal Sessions Court will pronounce the quantum  
Cyclone Ockhi: Death toll reaches 58
Veerendra kumar to resign as Rajyasabha MP
HC to summon Jacob Thomas
INTERNATIONAL NEWS
Democrat wins Alabama Senate seat in setback for Trump
 (Washington, Dec 13, 2017):Doug Jones today became the first Democrat in 25 years to win a Se
Let's talk without preconditions if you are excited about it: US to N Korea
East Jerusalem is Palestine’s capital: OIC
Man, 24, arrested for trying to climb Buckingham Palace wall
NATIONAL NEWS
Political leaders pay tribute to 2001 Parliament attack martyrs
 (NEW DELHI, Dec 13, 2017):Political leaders cutting across party lines began the day by remem
Election Commission sends notice to Rahul Gandhi for ‘violating model code of conduct’
Govt keeps window open on PAN, Aadhaar for financial dealings
Flash floods in Tawi river, 7 labourers rescued
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.