20
Wednesday
March 2019
9:33 PM IST
News Headlines
Not playing is not the solution: Ganguly on workload management        IPL schedule: KKR gets relief, to play all home matches at Eden        Rupee pauses after 6-day rally, slips 43 paise against US dollar        Jaitley dubs '108 purported economists' as compulsive contrarians        Sack 3 ministers in Imran Khan's govt for supporting banned outfits: Bilawal        Pak court mulls options for recording Musharraf's statement in treason case        HC takes note of 'dearth' of special education teachers in Delhi schools        Cong-JDS to campaign jointly, vow to reduce BJP to single        Mamata lashes out at BJP for questioning her religion        Jet pilots threaten to stop flying from Apr 1, set Mar 31 deadline on bailout, salaries        Congress will restore special category status to Arunachal and other NE states: Rahul        We think about the future: Sasi Tharoor        No riots in UP since BJP came to power: Adityanath        Congress finally picks Muraleedharan for Vadakara        We wanted to win this title badly: Chhetri        Afghanistan record maiden Test win, beat Ireland by 7 wickets        Reliance Communications pays Rs 458.77 cr to Ericsson: Sources        Musharraf admitted to Dubai hospital after reaction from rare disease : Party        One dead in possible terror attack on Dutch tram        Acid attack uncivilised, heartless crime, does not deserve any clemency: SC        
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Business News
Rupee pauses after 6-day rally, slips 43 paise against US dollar
 
Mumbai, Mar 19 (PTI) Halting its six-day winning run, the Indian rupee Tuesday edged lower by 43 paise to close at 68.96 to the US dollar on emergence of demand for the greenback from importers.

The local currency also came under pressure due to rising crude pressure and a caution ahead of the outcome of the Federal Open Market Committee (FOMC) meeting.

At the Interbank Foreign Exchange (forex), the domestic currency opened at 68.53 a dollar and fell further to touch the day's low of 69.05. It finally settled at 68.96 per dollar, down 43 paise over its previous close.

The Indian rupee on Monday had surged by 57 paise to close at an over seven-month high of 68.53 against the US dollar.

"The rupee has depreciated today on account of importers demand at lower levels. However broad sentiments remain positive due to foreign fund inflows in the debt and equity market. In the near term, the rupee may trade in the range of 68 and 69.50," said Rushabh Maru, Research Analyst - Currency and Commodity, Anand Rathi Shares and Stock Brokers.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.18 per cent to 96.35, ahead of the Federal Reserve policy decision tomorrow.

The euro traded near a more than two-week high as front-end calls were in demand, while the pound rose as UK Prime Minister Theresa May looks set to seek a long extension to the Brexit deadline.

According to Vinod Nair, Head of Research, Geojit Financial Services, "The rupee witnessed selling pressure following a continuous surge while domestic bond yields inched higher as investors awaited the US FED policy outcome."

Meanwhile, brent crude, the global oil benchmark, was trading at USD 68.02 per barrel, higher by 0.71 per cent.

"Bargain buying from importers and profit booking after the recent rally ahead of the financial year closing could be the one of the reason for depreciation," said VK Sharma, Head PCG & Capital Markets Strategy, HDFC Securities.

Foreign institutional investors (FIIs) put in Rs 2,132.36 crore on a net basis on Tuesday, provisional data showed.

Benchmark equity indices continued their winning run for the seventh consecutive session Tuesday. The 30-share BSE Sensex closed at 38,363.47, recording a rise of 268.40, or 0.70 per cent. The 50-share NSE Nifty closed at 11,509.80, higher by 70.20 points, or 0.61 per cent.

Meanwhile, the Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 68.5847 and for rupee/euro at 77.8185. The reference rate for rupee/British pound was fixed at 91.0069 and for rupee/100 Japanese yen at 61.66.


Jaitley dubs '108 purported economists' as compulsive contrarians
Reliance Communications pays Rs 458.77 cr to Ericsson: Sources
Sensex rises over 100 pts; Nifty above 11,300
Rupee rises by 8 paise to 69.63 vs USD in early trade
Tata Motors bags orders of over 2500 units of commercial passenger transportation vehicles
Crisis-hit Jet Airways defaults on foreign loan repayment
Optiemus launches wireless charger at Rs 2,499/-
Oil prices fall amid weak US jobs data
JSW Cement introduces high-strength Comp Cem cement in Goa
Star rating prog launched for microwave ovens, washing machines
In a first, SBI links pricing of loans, deposits to repo rate
Kia Motors announces partnerships with 8 leading financial institutions to offer financial services
Driving licences, vehicle registration certificates to come in card format only
Mining blocks to be allotted via e-auction only: J&K
ICF to roll out over 3000 coaches this fiscal, among largest railcar builders in world
Mercedes "cautiously optimistic" on growth in election year
UP to get 40 paise/unit cheaper power from plant
45 passports of NRIs cancelled for abandoning their wives: Maneka
Singapore supermarket chain removes basmati from shelves after customer finds dead rat in rice bag
Modi inaugurates Ahmedabad Metro first phase
KERALA NEWS
We think about the future: Sasi Tharoor
 Kottayam: We, the Congress party thinks about the future, says Sasi Tharoor MP. We stand for the you  
No riots in UP since BJP came to power: Adityanath
Congress finally picks Muraleedharan for Vadakara
I always stand for the principles and ethics I believe in: Sasi Tharoor MP
INTERNATIONAL NEWS
Sack 3 ministers in Imran Khan's govt for supporting banned outfits: Bilawal
 Karachi, Mar 19 (PTI) Opposition leader Bilawal Bhutto Zardari Tuesday demand the sacking of three m
Pak court mulls options for recording Musharraf's statement in treason case
Musharraf admitted to Dubai hospital after reaction from rare disease : Party
One dead in possible terror attack on Dutch tram
NATIONAL NEWS
HC takes note of 'dearth' of special education teachers in Delhi schools
 New Delhi, Mar 19 (PTI) The Delhi High Court has taken note of the "dearth" of special education tea
Cong-JDS to campaign jointly, vow to reduce BJP to single
Mamata lashes out at BJP for questioning her religion
Acid attack uncivilised, heartless crime, does not deserve any clemency: SC
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