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Rupee rises by 8 paise to 79.84 on weak dollar ahead of Fed chair speech

The rupee appreciated by 8 paise to close at 79.84 against the US dollar on Friday, supported by a weak dollar in the overseas markets and a positive trend in domestic equities. However, higher crude prices in the international markets restricted the rupee’s gain, forex dealers said. At the interbank forex …

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​Rupee falls 4 paise to 79.88 against US dollar in early trade

MUMBAI: The rupee depreciated 4 paise to 79.88 against the US dollar in opening trade on Tuesday tracking a strong American currency and risk aversion in domestic markets. At the interbank foreign exchange, the rupee opened at 79.85 against the dollar, then fell to 79.88, registering a decline of 4 paise over the last close. …

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Rupee ends flat at 79.84 against the US dollar

MUMBAI: The rupee recovered early losses to close flat at 79.84 (provisional) against the US dollar on Monday amid a strong greenback overseas and massive sell-off in equities. However, lower crude oil prices supported the local unit, forex dealers said. At the interbank foreign exchange market, the local currency opened weak at 79.90 and moved …

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Indian rupee at 4-week low; set to breach 80-level against USD, say traders

By Anushka Trivedi (Reuters) – The Indian rupee hit a four-week low on Monday as the dollar continued its rally on the U.S. Federal Reserve’s hawkish stance, while the Chinese yuan’s weakness exacerbated losses in the local currency. The partially convertible rupee fell 0.1% to 79.875, having dropped to its lowest …

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Rupee at fair value despite balance of payment problems: JPMorgan analyst

The Indian rupee’s fair value is around 80 against the U.S. dollar, given the country’s balance of payment challenges and the Reserve Bank of India’s interventions, JPMorgan’s head of emerging Asia local markets strategy said. India’s balance of payments, a measure of how much the country relies on money from abroad, has …

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Russia may buy rupee, yuan & lira for rainy day fund

MOSCOW: Russia is considering buying the currencies of “friendly” countries such as India, China and Turkey to hold in its National Wealth Fund (NWF), having lost the ability to buy dollars or euros due to sanctions, the central bank said on Friday. The bank said it was sticking to the policy of a free-floating rouble …

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Consumer durable manufacturers may hike prices amidst Rupee depreciation; expect demand pick-up in festive season

Consumer durable manufacturers may hike prices amidst Rupee depreciation; expect demand pick-up in festive season Photo : iStock (By Khushboo Kumari Tiwari) Mumbai: Amidst the concerns about depreciating Rupee, consumer durable manufacturers in India are planning to hike prices to compensate for the higher cost of import of raw materials, even as global commodity prices …

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