Currencies

India plans to introduce a law to ban private cryptocurrencies such as bitcoin and put in place a framework for an official digital currency to be issued by the central bank, according to a legislative agenda listed by the government. The law will "create a facilitative framework for creation of the official digital currency to be issued by the Reserve...

The rupee depreciated by 13 paise to settle at 73.05 (provisional) against the US dollar on Thursday, tracking muted domestic equities and a strengthening American currency. At the interbank forex market, the rupee opened at 73.13 against the greenback and hit an intraday high of 73.04 and a low of 73.15. It finally closed at 73.05, lower by 13 paise...

Infrastructure investment trusts (InvITs) and real estate investment trusts (REITs) are gaining currency in India, following the footsteps of the developed world. A CRISIL Rating analysis shows these instruments can potentially raise up to Rs 8 lakh crore of capital for India's infrastructure buildout over the next five fiscals. A deeper debt market where investors can discern risks and returns...

The rupee settled marginally higher by two paise against the US dollar on Wednesday, January 27, at  72.92 (provisional) amid weaker domestic equities and ahead of the US central bank's - Federal Reserve meeting. At the interbank foreign exchange market, the domestic unit opened at 72.91 against the dollar and registered an intra-day high of 72.78. It witnessed a low of 72.94 in day trade....

The rupee rose by 3 paise to settle at 72.94 (provisional) against the US dollar on Monday, extending its gains for the fifth straight session despite heavy selling in the domestic equity market. At the interbank forex market, the rupee opened at 72.95 against the American currency, and hit an intraday high of 72.89 and a low of 72.96 in...

Bitcoin fell heavily on Friday and was heading toward its sharpest weekly drop since last March, as worries over its technology and regulation extended a pullback from recent record highs. The world's most popular cryptocurrency fell more than 5 percent to an almost three-week low of $28,800 (roughly Rs. 21 lakhs) in the Asia session, before steadying around $30,000 (roughly...

The rupee continued its winning streak for the third straight session and gained six paise against the US dollar on Thursday, January 21, to close at a near five-month high mark of 72.99, amid strong domestic equities and weaker American currency. At the interbank foreign exchange market, the domestic unit opened higher at 72.96 and registered an intraday high of 72.93. Towards...

The rupee gained for the second straight day and closed 12 paise higher at 73.05 (provisional) against the US dollar on Wednesday, supported by a rally in domestic equities and a weak American currency. At the interbank forex market, the rupee opened at 73.11, and hit an intraday high of 73.05 and a low of 73.14. It finally finished at 73.05,...

Mindtree shares gained nearly 4 per cent in early morning trading after the information technology company owned by Larsen & Toubro (L&T) posted a 65.7 per cent year-on-year rise in net profit to ₹ 326.5 crore for the third quarter ended December on the back of improvement in operational efficiencies. At 9:30 am, the shares of Mindtree were trading...

Snapping its three-session winning streak, the rupee slipped three paise against the US dollar on Friday, January 15, to settle at 73.07 (provisional), amid weaker Asian peers and heavy selloffs in domestic equities with volatile trading sessions. At the interbank foreign exchange market, the domestic unit opened at 73.07 and witnessed an intra-day high of 72.99. It witnessed a low of...