Tag: Currency
17 Results
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Rupee moves up 10 paise against dollar
The rupee rose 10 paise to 64.01 against the dollar on Thursday as the US Congress gave its final seal of approval to a sweeping tax legislation. Dubbed as the biggest overhaul of the US tax code in 30 years, the Bill slashes taxes for corporates as well as the middle class. A positive start …
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December 21, 2017 -
Rupee logs a fresh 3-mth high at 64 against dollar
The rupee firmed up 4 paise to 64 against the dollar on Wednesday, taking cues from a higher opening in the domestic stock market. The US currency lost muscle even as the Republican tax cut package moved closer to becoming a law. In the opening session, the domestic unit went up 4 paise to 64 …
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December 20, 2017 -
Rupee spurts 7 paise against dollar after BJP wins polls
The rupee on Tuesday climbed a bit to 64.17 against the dollar as the dust settled on the political landscape in Gujarat and Himachal Pradesh and the BJP gets ready to form the next government in both states. The BJP returns to power for the sixth straight term in Gujarat and unseats the Congress in …
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December 19, 2017 -
Rupee loses 16 paise against dollar on negative macro numbers
The rupee took a hit of 16 paise at 64.56 against the US dollar, unable to digest a negative set of macroeconomic data. According to data released, industrial growth in October hit a 3-month low of 2.2 per cent while retail inflation in November rose to a 15-month high of 4.88 per cent. A lower …
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December 13, 2017 -
Rupee weakens 10 paise against dollar
The rupee depreciated 10 paise to 64.51 against the US dollar in early trade on Wednesday at the interbank foreign exchange due to appreciation of the American currency overseas. Dealers also attributed the rupee’s fall to increased month-end demand for the US currency from importers. Domestic equity market opening with gains, however, capped the rupee …
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November 29, 2017 -
Rupee goes up 5 paise against dollar to 65.06
The rupee firmed up 5 paise to 65.06 against the dollar on Tuesday, set off by fresh selling of the US currency by exporters and banks. The local unit received some good support from higher domestic equities. But a strong dollar overseas kept the rupee in check. On Monday, the rupee had retreated from its …
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November 21, 2017 -
Note ban broke terror backbone, curbed stone-pelting: Manoj Tiwari
Observing November 8 as “anti-black money day”, the BJP on Wednesday said the scrapping of high value currency notes a year ago was a “historic” move that “broke the backbone” of terrorism and Maoist violence and led to “significant decline” in stone-pelting protests in Jammu and Kashmir. The ruling party held a march in central Delhi led …
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November 8, 2017 -
Rupee jumps 10 paise to 65.18 against dollar
The rupee climbed 10 paise to 65.18 against the dollar today after US president’s tax cut plans failed to sustain interest in the US currency among traders. Banks and exporters turned their back on the greenback. The rupee looked good, taking support from a higher opening in domestic stocks. The dollar’s falling fortune against currencies …
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October 11, 2017 -
Rupee jumps 11 paise against dollar to 65.25
The rupee appreciated by 11 paise to 65.25 against the dollar today as rising risk appetite pushed back the US currency amid a higher opening in domestic equities. The risk-on approach pushed exporters and banks increasingly away from the dollar. The greenback ran out of luck overseas too, snapping its winning streak, as it fell …
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October 10, 2017 -
Rupee softens 13 paise against dollar to 65.27
The rupee depreciated 13 paise to 65.27 against the dollar today as expectations rose that US President Donald Trump’s tax cut plan will be signed into law. The US currency put on more lustre on increased demand from banks and importers. The renewed strength of the dollar overseas weighed on the rupee, forex dealers said. …
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October 6, 2017 -
Rupee tumbles 16 paise against dollar, hits 65.88
The rupee took more blows today as it slipped 16 paise to a fresh six and a half month low of 65.88 against the dollar that gained clout overseas on talk of a US rate hike and the prospect of monetary stimulus pullout. The US Fed’s policy decision and commentary led to foreign investors heading …
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September 28, 2017 -
Rupee moves up 10 paise against dollar
The rupee trended higher by 10 paise to 65.35 against the dollar in the beginning today, reflecting a strong start in stock markets. Fresh selling of the US dollar by banks and exporters brought some life back in the local currency. Stocks were full of promise as they opened on a firm note, which made …
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September 27, 2017 -
Rupee drops 7 paise against dollar in early trade
The rupee dropped further by 7 paise to 64.00 against the US currency in early trade at the interbank foreign exchange on Tuesday as the dollar strengthened overseas. Dealers said increased demand for the US currency from importers and the greenback’s gains against other currencies overseas weighed on the rupee. Currency traders also turned cautious …
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September 12, 2017 -
ATMs may take three months to dispense Rs. 200 notes
While the RBI launched the 200-rupee note a week ago, it may take up to three months for ATMs to start dispensing the new denomination currency as it will involve a huge exercise of recalibration. Some banks have even asked the ATM companies to begin testing the new note for recalibration of the machines, though …
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September 3, 2017 -
NSE cuts charges on currency futures to deepen market
Looking to bring in more liquidity in derivatives, the National Stock Exchange (NSE) has significantly lowered transaction charges in currency futures. The decision is expected to help in reducing trading and hedging costs for various entities, including small and medium enterprises. The fee starts at Rs 90 per crore of traded value for incremental monthly …
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August 9, 2017 -
Meerut police arrest five with Rs. 29 lakh in old currency
Police have arrested four men and a woman with more than Rs. 29 lakh in old currency notes of 500 and 1,000 denomination. On a tip, Pallavpuram police raided Marwari Bhoj, a restaurant near Modipuram police chowki, and arrested four men and a woman for possessing Rs. 29,42000 in old currency. The arrested men have …
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June 29, 2017 -
Army to assist Centre in disposal of old currency notes
After assisting the government in printing and transporting new currency notes, the army will now help with the disposal of old notes that went back to the banks after demonetisation. According to army sources, the government has asked for "15 teams from the army for currency verification". However, the official did not reveal the exact …
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May 23, 2017