Business

Rupee rises 14 paise to 70.32 against US dollar amid uncertainty over Federal Reserve rate hikes

The rupee Thursday appreciated 14 paise to 70.32 against the US dollar in early trade amid weakness in the American currency on uncertainty over Federal Reserve rate hikes following the release of Fed meet minutes. Forex traders said the weakness in the US dollar against other currencies overseas, falling crude oil prices and fresh foreign fund inflows pushed the rupee higher.

The minutes of US Fed's latest policy meeting showed the policymakers may slow the pace of rate hikes to prevent a slowdown in the economy. At the Interbank Foreign Exchange, the rupee opened weak at Rs 70.49, but soon appreciated to 70.32 against the greenback, up 14 paise over its previous closing price.The rupee on Wednesday had depreciated by 25 paise to close at 70.46 against the US dollar.

Brent crude, the global benchmark, was trading lower at 60.89 per barrel, lower by 0.90 per cent.Meanwhile, foreign funds bought shares worth Rs 276.14 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 439.67 crore on Wednesday, provisional data showed.The benchmark BSE Sensex was trading down 27.62 points, or 0.08 per cent at 36,185.29, while the NSE Nifty was trading at 10, 839.65, down 15.50 points, or 0.14 per cent. 

Viral Acharya quits as RBI Deputy Governor, 6 months before his term ends

Reserve Bank of India Deputy Governor Viral Acharya has resigned six months before the scheduled end of his term, sources said Monday. He was in charg...

India's leading e-tailer Flipkart, co-founder sells part stake to Walmart for 531 crore

Binny Bansal, the co-founder of India's leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76 million (Rs 531 crore) to wo...

Rupee opened flat at 69.58 vs US dollar in early trade

The rupee opened on a flat note at 69.58 against the US dollar in opening trade on Monday amid rising crude oil prices and foreign fund outflows.Forex...

Sensex, Nifty start on a cautious note

Domestic equity benchmarks BSE Sensex and NSE Nifty started on a cautious note on Monday amid weak cues from other Asian markets and rising crude pric...