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January 2020
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News Headlines
No right to live in India if you can't accept Vande Mataram: Pratap Sarangi        Impossible to provide proof of religious persecution under CAA: Assam Min Himanta Biswa        Real problem in country is unemployment, not population: Owaisi        Shabana Azmi injured in accident on Mumbai-Pune Expressway        Dhawan hit on rib-cage, won't take field during Australia innings: BCCI        Australian all-rounder Mitchell Marsh eyes return to national side        India, Iran should work to expedite Chabahar Port development, connectivity to Afghanistan: Zarif        Forex reserves rise by USD 58 mn to record high of USD 461.21 bn        Putin's, Xi's ruler-for-life moves pose challenges to West        Ukraine PM offers to resign after leaked recording        Top Iran leader: Trump is a 'clown' who will betray Iranians        Don't do politics over Nirbhaya case: Kejriwal to BJP        Will probe Digvijaya's phone-tapping claims: Maha minister        Owaisi hits out at Bipin Rawat on "de-radicalisation" comments        Owaisi hits out at Bipin Rawat on "de-radicalisation" comments        Nirbhaya case: Delhi court issues fresh death warrants against 4 convicts for Feb 1, 6 am        Mithali demoted to Grade B in BCCI central contracts        Ponkratov heads Chennai Open chess tournament field        India, US in advance-stage talks to resolve trade issues: Goyal        Gadkari urges states to come forward in the drive for curbing accidents        
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Business News
Rupee ends steady ahead of RBI policy outcome
 
Mumbai: The Indian rupee closed on a steady note against the US dollar on Tuesday as the domestic forex market turned cautious ahead of the RBI monetary policy outcome.

Besides, participants also took note of the developments on the global trade canvas, where US President Donald Trump announced imposition of tariffs on imports from Brazil and Argentina as well as indicated that a deal with China might not be happening till next year's US presidential polls.

At the interbank foreign exchange market, the rupee opened at 71.66 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.52 and a low of 71.79.

The domestic unit finally settled at 71.66, unchanged from its previous closing price.

"On the domestic front, focus will be on RBI policy meeting and that would be important to trigger a move for the currency. We expect the USDINR(Spot) to quote in the range 71.70 and 72.20," Motilal Oswal Financial Services Private Ltd Forex & Bullion Analyst Gaurang Somaiyaa said.

Bankers and experts believe the Reserve Bank may cut interest rates for the sixth straight time on December 5 to support growth that has continued to slip.

The RBI has cut interest rates on every single occasion the monetary policy committee (MPC) has met since Shaktikanta Das took over as the Governor in last December.

Sentiments remained muted after US reinstated tariffs on imports from Argentina and Brazil and threatened even harsher penalties on dozens of popular French products, analysts said.

Further, the US president saying he had no deadline for reaching a trade agreement with China and it might be better to wait until after the US presidential elections in November 2020 also spooked investors, they added.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,731.33 crore on Monday, exchange data showed.

Brent futures, the global oil benchmark, fell 0.10 per cent to USD 60.86 per barrel.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.07 per cent to 97.79.

The 10-year government bond yield was at 6.47 per cent on Tuesday.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.7217 and for rupee/euro at 79.0249. The reference rate for rupee/British pound was fixed at 92.6496 and for rupee/100 Japanese yen at 65.41.

On the equities front, the 30-share BSE Sensex settled at 40,675.45, down 0.31 per cent or 126.72 points.

The broader NSE Nifty settled at 11,994.20, showing a dip of 0.45 per cent or 54 points.


India, Iran should work to expedite Chabahar Port development, connectivity to Afghanistan: Zarif
Forex reserves rise by USD 58 mn to record high of USD 461.21 bn
India, US in advance-stage talks to resolve trade issues: Goyal
Gadkari urges states to come forward in the drive for curbing accidents
IndusInd Bank down 5.44 pc to Rs 1400.60
Rupee up by 7 paise against USD
CCI directs probe against Amazon, Flipkart
Panic stricken depositors mill around bank after RBI caps withdrawal limit
US removes currency manipulator label on China ahead of inking of trade deal
Flipkart opens two warehouses in Haryana, to create over 5,000 local jobs
Rupee cuts short 5-day gaining streak; edges down 1 paise to 70.87 against dollar
Rupee extends gains by 8 paise to 70.86 against US dollar
Centre to set up panel to examine issues on royalty rates for major minerals
Tata Motors global sales dip 3 pc dip to 97,348 units in Dec
Huawei exec can be extradited to US, Canada attorney general says
Sebi brings new system audit norms for exchanges, clearing corporations
Oil PSU unions oppose BPCL disinvestment
''Rumours'' of Air India''s shutdown baseless: CMD
Smartphone sales buck slowdown on strong urban, rural demand
Sensex jumps over 11 pts; Nifty above 12,250
KERALA NEWS
Kerala govt will continue fight against CAA: Minister
 Thiruvananthapuram: A day after it moved the Supreme Court against the controversial Citizenship Ame  
Sabarimala all set for Makaravilakku; Heavy security at Ayyappa shrine
Nigerian arrested for duping Keralite couple
Police book BJP workers for raising provocative slogans
INTERNATIONAL NEWS
Putin's, Xi's ruler-for-life moves pose challenges to West
 Moscow: Russia's Vladimir Putin and China's Xi Jinping have established themselves as the world's mo
Ukraine PM offers to resign after leaked recording
Top Iran leader: Trump is a 'clown' who will betray Iranians
Musharraf approaches Pak SC to suspend death sentence ruling by special court in high treason case
NATIONAL NEWS
No right to live in India if you can't accept Vande Mataram: Pratap Sarangi
 Surat (Gujarat) [India], Jan 19 (ANI): Accusing Congress of spreading misinformation about the Citiz
Impossible to provide proof of religious persecution under CAA: Assam Min Himanta Biswa
Real problem in country is unemployment, not population: Owaisi
Don't do politics over Nirbhaya case: Kejriwal to BJP
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