Rupee down 9 paise against dollar in early trade

Mumbai, July 20: The rupee weakened by 9 paise to 63.56 against the US dollar in early trade today as the American currency strengthened on expectations of interest rate hike by US Fed by the end of the year.

Besides, increased demand for the dollar from importers and a lower opening in the domestic equity market also weighed on the local currency, dealers said.

The rupee had gained four paise to close at 63.47 on Friday on fresh selling of dollars by banks and exporters.

Meanwhile, the benchmark BSE Sensex fell by 56.51 points or 0.19 per cent to 28,406.80 in early trade.

Government completely removes customs duty on sugar export

New Delhi: The central government has completely removed the duty on export of "raw sugar, white or refined sugar".'In order to promote exports with t...

Prasad warns FB of strong action if it sways electoral process

New Delhi: India on Wednesday warned social media platforms like Facebook of 'strong action' if any attempt was made by them to influence the country'...

PNB Rs 13,000 crore fraud: Mehul Choksi writes to CBI again

New Delhi: Responding to the fresh set of summons sent by Central Bureau of Investigation (CBI), absconding jeweller Mehul Choksi again wrote a letter...

How RBI is disposing of demonetised currency worth Rs 15.28 trillion

New Delhi: Demonetised Rs 500 and Rs 1,000 notes, which have been counted and processed for genuineness, are shredded and briquetted before being disp...