Rupee trades in narrow range against U.S. dollar in early trade
The Hindu
Mumbai: Rupee trading range-bound against the dollar, supported by foreign fund inflows and negative domestic equities trend.
The rupee witnessed range-bound trading in initial deals against the U.S. dollar on March 11, as the support from fresh foreign fund inflows was negated by a negative trend in domestic equities.
Forex traders said the rupee exhibited strength supported by a weak dollar and easing crude oil prices.
At the interbank foreign exchange, the rupee opened at 82.74 against the dollar, but soon pared the losses and touched 82.64 against the greenback in initial trade, higher by 3 paise from its previous close.
On Thursday, the rupee climbed 16 paise to settle at 82.67 against the U.S. dollar.
The forex market was closed on Friday for Mahashivratri.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was at 102.72, higher by 0.02%.
Brent crude futures, the global oil benchmark, fell 0.67% to $81.53 per barrel.
Rupee hits record low against dollar due to strong American currency, foreign fund outflows, and rising oil prices.
H Lakshmanan, former Executive Director of Sundaram-Clayton in the TVS family, passed away at 92.
Vodafone sells stake in Indus Towers for ₹2,800 crore, uses proceeds to clear lenders dues and increase Vi shareholding.
SpiceJet to unground 10 more aircraft by mid April after raising funds, growing active fleet size to 28.
UN report projects Indian economy to grow by 6.6% in 2025, driven by private consumption and investment, with strong export growth.
Supreme Court halts ₹1 lakh crore GST notices to online gaming companies and casinos for alleged tax evasion.
Punjab Government rejects Centre's draft policy on agricultural marketing, citing concerns over private markets and MSP procurement.
CEAMA urges tariff reductions, PLI scheme expansion, and tax rationalization to boost Indian electronics industry competitiveness.
Sensex and Nifty rebounded but fell due to foreign fund outflows, with TCS leading gainers and FIIs selling off equities.
Adani Group to raise ₹7,148 crore by selling stake in Adani Wilmar, focusing on infrastructure business growth.
India's GDP growth rate decline, official estimates questioned, and economic slowdown analysis by experts and academics.