Forex traders noted that despite the continuous influx of foreign capital, the local unit initially resisted the decline but eventually succumbed to pressure, influenced by a subdued domestic equity market trend.
At the interbank foreign exchange, the domestic unit opened at 82.21 against the dollar, then rose to 82.16, registering a rise of 9 paise over its previous close.
While rising inflation, tightening monetary policy, and climbing crude oil prices have made the current fiscal a difficult one for the INR, the Russia-Ukraine war sparked a near-freefall.
Mumbai: The Indian equities markets benchmark Sensex rose 164 points on Tuesday, as a nearly 8 per cent drop in Brent Crude oil prices boosted investors’ sentiments. The 30 stock S&P BSE Sensex was trading at 57,742.30 points at 11.42 am, which is 148.81 points or 0.26 per cent higher than its previous day’s close […]
New Delhi: Concerns over lower supply amid escalating Russia-Ukraine conflict pushed up global crude oil prices to $102 per barrel on Tuesday. The rise in crude oil prices comes after negotiations failed to resolve the Russian-Ukrainian conflict. The Brent-indexed crude oil prices had risen by 5 per cent to over $98 per barrel on Monday. […]
Hyderabad: There is a bigger game plan behind the recent decision of the Union Government in reducing the excise duty on petrol and diesel by Rs 5 and Rs 10 per litre respectively. While the reduction is too little and too late considering the astronomical rise in fuel prices in the recent times, the Centre […]
