Currencies

The rupee surged by seven paise against the US dollar on Tuesday, December 29, to settle at 73.42 (provisional), amid positive domestic equities and weak American currency. This was the fourth straight session of the domestic unit's gain against the dollar. At the interbank foreign exchange market, the local unit opened at 73.42 against the dollar and registered an intra-day high of 73.34. It...

Unaccounted income of ₹ 100 crore has been detected after the income tax department raided three "leading" contractors of Northeast India based in Assam early this week, the CBDT said on Saturday. The search and survey action was initiated on December 22 at fourteen locations in Guwahati, Silapathar and Pathsala in Assam and in Delhi. "Cash of ₹ 2.95 crore has...

Continuing its winning streak, the rupee climbed 21 paise against the US dollar on Thursday, December 24, to close at 73.55 (provisional) amid positive domestic equities and sustained foreign fund inflows, boosting investor sentiment. At the interbank foreign exchange market, the local unit opened at 73.66 against the dollar and registered an intra-day high of 73.54. It witnessed a low of 73.66. In...

The rupee snapped its two-day losing streak and rose by eight paise against the US dollar on Wednesday, December 13, to settle at 73.76 (provisional), amid sustained foreign fund inflows and strong domestic equities. At the interbank foreign exchange market, the domestic unit opened at 73.89 against the dollar and registered an intra-day high of 73.73. It witnessed a low of...

The domestic stock exchanges witnessed their worst single-day selloff in over seven months on Monday mirroring losses in European markets after the fast-spreading new strain of coronavirus was 70 per cent more infectious, the United Kingdom government said. The new strain of the virus led to lockdown in parts of the United Kingdom and a host of countries imposed...

The domestic unit may strengthen marginally against the US dollar next year. According to a recent report titled 'Ecoscope - India's Quarterly Economic Outlook' released by Motilal Oswal, the country has posted its first quarterly current account surplus in 13 years and expected to post a first annual surplus in 17 years in the financial year 2021-22. This is a result of...

The domestic unit may strengthen marginally against the US dollar next year. According to a recent report titled 'Ecoscope - India's Quarterly Economic Outlook' released by Motilal Oswal, the country has posted its first quarterly current account surplus in 13 years and expected to post a first annual surplus in 17 years in the financial year 2021-22. This is a result of...

A day after settling flat, the rupee rose marginally higher by three paise against the US dollar on Friday, December 18, to close at 73.56 (provisional) amid positive domestic equities and sustained foreign fund inflows. At the interbank foreign exchange market, the domestic unit opened at 73.55 against the greenback and registered an intra-day high of 73.49. It witnessed a low of...

Finance Minister Nirmala Sitharaman held pre-budget consultations with representatives of the social sector on Thursday, December 17, ahead of the Union Budget 2021-22. Along with Finance Minister Nirmala Sitharaman, Finance Secretary Dr A.B. Pandey, Department of Economic Affairs (DEA) Secretary Tarun Bajaj, Chief Economic Advisor (CEA) K V Subramanian besides other senior officials were also present in the meeting....

Leading virtual currency bitcoin on Wednesday traded above $20,000 for the first time following a sustained run higher in recent weeks. Just 12 years old, bitcoin reached a record-high $20,398.50 before pulling back to $20,145, which was still an intra-day gain of nearly four percent. It has seen a meteoric rise since March, when it stood at $5,000, spurred...