Forex traders said a weak dollar in the overseas market cushioned the downside for the local unit.
The domestic unit finally settled at 81.79 against the American currency, registering a fall of 7 paise over its last close.
The greenback has tumbled in recent weeks as inflation data and comments from Federal Reserve officials have suggested that the central bank can soon slow the pace of its punishing interest rate hikes.
Forex traders said the American currency strengthened after strong US retail sales data pointed to resilient consumption adding room for tighter policy by the US Federal Reserve.
Catch today's commodity chat with Manisha Gupta to know how the surge could impact you!
Blessings of the Almighty are necessary for hard work to translate into success, the Aam Aadmi Party leader said. Kejriwal reiterated his demand to print pictures of the two Hindu deities on currency notes at a rally at Morva Hadaf in Panchmahal district of Gujarat where Assembly elections are expected to be announced soon.
Other parties term move opportunistic, with an eye on garnering the Hindu vote in the forthcoming Gujarat election
If Kejriwal really meant what he said then he should expel former Delhi minister Rajendra Pal Gautam and AAP’s Gujarat unit president Gopal Italia from the party for ”speaking against Hindu deities”, Tiwari demanded.
A slew of US data on manufacturing, home prices and consumer confidence have all fallen short of economist estimates, underscoring the toll of Fed tightening
European markets closed in positive territory, despite data showing Britain and Germany heading for recession and the Hong Kong stock market plunging
The dollar held firm in the face of a report on Friday from the Wall Street Journal that said Federal Reserve officials will likely debate the size of future interest rate hikes, which in turn kept Treasury yields from drifting higher.
Coins from the Royal Mint mark 25 years since the first Harry Potter book.
At the interbank foreign exchange market, the local currency opened at 82.89 and witnessed a high of 82.59 and a low of 82.91.
The debt crisis in southern Europe — and the threat it posed to the single currency in the early part of the last decade — ended that pipe dream.
Around the world, countries that rely on food imports are grappling with a destructive combination of high interest rates, a soaring dollar and elevated commodity prices, eroding their power to pay for goods that are typically priced in the greenback
High inflation has now spread well beyond physical goods to the nation’s vast service sector, which includes everything from dental care and apartment rents to auto repairs and hotel rates. The broadening of inflation makes it harder to tame
A sharp jump in long term benchmark yields marks a sign of stress. Expected equity returns will increase and borrowing costs will also increase. A weaker rupee makes matters worse. There’s a message here for traders
A falling currency, protectionist market, and high inflation all contribute to the rising value of cars—and a frenzied market for used ones.
Currencies are down and inflation is up. Just don’t look for a replay of the 1990s
At the interbank foreign exchange market, the local currency opened on a positive note at 81.52, then pared all the gains to settle at an all-time low of 81.94 against the American currency, registering a decline of 32 paise over its previous close.
Reserves have declined by about $1 trillion, or 7.8%, this year to $12 trillion, the biggest drop since Bloomberg started to compile the data in 2003.
The reserve currency will be based on a basket of the currencies of the five-nation bloc.
The pound touched $1.128 after media reports of the u-turn, its highest level since Sept. 22, the day before British finance minister Kwasi Kwarteng sent markets tumbling with a new "growth plan" to cut taxes and regulation, funded by vast government borrowing.
Having failed to foresee the surge in inflation to multi-decade highs, the Federal Reserve and most peers are now lifting rates at speed in a bid to restore price stability and their own credibility
The Indian rupee has a major fall against the dollar. FIIs, being the largest group of investors in the Indian stock market, may lead to rupee appreciation with investment and depreciation through selling. But does it actually affect the equity market? Let's find out