23
Tuesday
April 2019
7:45 AM IST
News Headlines
Rahul liar of first order; should apologise to country: BJP on Cong chief''s affidavit in SC        Nation-wide emergency from midnight in Sri Lanka        Pant fires Delhi Capitals to six-wicket win over Rajasthan, go top of table        Shiv Sena asks govt to take over Jet Airways        Congress releases list of six candidates for Delhi Lok Sabha seats        SP-BSP-RLD, an alliance of hearts rather than parties: Akhilesh        CM Nath regime intimidating officials: Shivraj Singh Chouhan        Bairstow and Warner lead Sunrisers to 9-wicket victory        Dhoni''s 84* goes in vain as RCB win 1-run thriller against CSK        Sri Lanka serial blasts : Seven arrested over multiple blasts        Pak Prime Minister Imran Khan arrives in Iran        Serial blasts rip through Lanka on Easter Sunday: 228 dead, 450 injured        US confirms deaths of several Americans in Sri Lanka blasts        Pakistan deplores India''s decision to suspend cross-LoC trade        Multiple blasts likely to have "adverse impact" on Lankan tourism: tour operators        Kerala CM condemns terrorist attack in Sri Lanka        French Police detain over 120 people amid Yellow Vest rallies in Paris        Gunmen kill 2 in north Nigeria        Amit Shah: K Surendran represents believers all over world        Asking vote for those who insulted Ambedkar is stooping to new low: Yogi to Mayawati        
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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.


Pakistan deplores India''s decision to suspend cross-LoC trade
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Jet Airways grounds ops temporarily; Secy calls urgent meeting
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Lenders to Jet working on revival, no final decision yet: PNB MD
UK business says Brexit extension averts crisis
Jaitley discusses India's economic reforms with investors in US
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Hyundai to train 10k sales consultants for its global connected tech
Facebook to block foreign ads for Australia election
Gold slumps Rs 80 on weak demand
SC quashes RBI circular on insolvency issued last year
Rupee slips 22 paise against US dollar in early trade
KERALA NEWS
Kerala CM condemns terrorist attack in Sri Lanka
 Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan on Sunday strongly condemned that terrori  
Sexist remark: Electoral Officer warns ruling LDF leader
CPI-M-led LDF holds road show in Wayanad
Toddler in coma after being beaten up; Mother arrested
INTERNATIONAL NEWS
Sri Lanka serial blasts : Seven arrested over multiple blasts
 Colombo: The Sri Lankan government said on Sunday that seven people had been arrested over the multi
Pak Prime Minister Imran Khan arrives in Iran
US confirms deaths of several Americans in Sri Lanka blasts
French Police detain over 120 people amid Yellow Vest rallies in Paris
NATIONAL NEWS
Rahul liar of first order; should apologise to country: BJP on Cong chief''s affidavit in SC
 New Delhi: The BJP demanded an apology from Rahul Gandhi on Monday after the Congress president expr
Shiv Sena asks govt to take over Jet Airways
Congress releases list of six candidates for Delhi Lok Sabha seats
SP-BSP-RLD, an alliance of hearts rather than parties: Akhilesh
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