The board of the IMF was expected to formally approve a $50 bn financing deal for Argentina, a move incoming central bank governor Luis Caputo said would stabilize the country’s foreign exchange mkt.
The rupee staged a good comeback, recuperating by a sharp 30 paise to end at 68.08 against the US currency on heavy bouts of dollar selling by banks and exporters with equities gaining ground.
The rupee nosedived 39 paise to hit a near one-month low of 68.38 against the US dollar as escalating trade threats between the world's two biggest economies continued to spiral.
The rupee staged a recovery towards the fag-end of the session today and ended with a marginal 2 paise gain at 67.99 against the US dollar even as geopolitical worries continued.
India's foreign exchange reserves increased by USD 879.5 million to USD 413.109 billion in the week to June 8, RBI said.
The rupee crumbled below the key 68-mark to end at a fresh 3-week low of 68.01 against the US currency after the country's trade deficit widened more than expected amid renewed global trade war fears.
The rupee withstood the headwinds of CAD worries and a hawkish Federal Reserve rate hike to close higher by 3 paise at 67.62 against the US currency, cutting short its two-day decline.
The rupee washed out its initial gains to close down by 7 paise at 67.49 against the US currency due to fag-end dollar demand from banks and importers.
The rupee staged a recovery to close 8 paise higher at 67.42 against the US currency on fresh bouts of dollar selling by exporters and corporates.
The rupee suffered a major blow and endured a sharp reversal in fortunes against the US currency on renewed worries over rising global crude prices and capital outflows.
I-T department probing acquisition of Chanda Kochhars Mumbai Residence
I-T department looking into acquisition of the residence by Deepak Kochhar
Acquisition of residence said to be linked to firms of Videocon group
Indian Express Reports
BANK OF MAHARASHTRA
3 officials including MD & CEO RP Marathe, ED RK Gupta arrested in Pune
Arrests are in connection to fraudulent loans sanctioned to Kulkarni Developers
Outstanding exposure to DS Kulkarni Developers at Rs 94.52 Cr
RITES IPO subscribed 0.6x on day 1
Fine organic industries IPO subscribed 0.12x on day 1
SBI's B Sriram takes additional charge as MD & CEO of IDBI Bank
B Sriram is the longest serving PSB MD
B Sriram Has Experience In Managing Stressed Assets
Wins bid for Connaught Place in Delhi
Taj Group wins 33-year lease for Connaught Hotel in E-auction
Offered to share 31.8% of annual revenue earned with civic body
Have not received any notice from ED on FEMA violations
U.S. to levy tariff on Indian welded pipes
U.S. imposes anti-subsidy duties of upto 500% on welded pipes from India
China, South Korea, & Turkey to also face duties from U.S.
U.S. imported large-diameter welded pipes worth $294.7 Mn from India in 2017
U.S. International Trade Commission scheduled to make a final decision By Dec 20