The rupee today surged to a three-week high of 68.31 before closing marginally up by 4 paise at 68.53 against the US currency mirroring late losses in stock markets and capital outflows.
European Union’s top court granted six French banks an exemption from holding capital against deposits parked with a state-owned fund, overturning a decision by the European Central Bank.
The rupee today surged by 20 paise to end at a one-week high of 68.57 against the US dollar buoyed by a steep fall in crude prices and a strong rally in equity markets.
Euro zone interest rates will remain at their current level for as long as needed to raise inflation and the European Central Bank’s guidance should be seen as “open-ended”, ECB policymakers concluded in June according to minutes of their meeting published on Thursday.
Production at factories in the 19 countries sharing the euro currency increased by more than expected in May, data from European statistics office Eurostat showed on Thursday.
France lowered its final June inflation figures from earlier estimates, although inflation in the euro zone’s second-biggest economy remained near six-year highs.
European Central Bank supervisors will give euro zone banks extra time to set cash aside against their bad loans if their pile of soured debt is particularly high, the ECB said.
The rupee ended higher by 5 paise at 68.77 against the US currency today on the back of some stray dollar selling by exporters and banks.
ECB first interest rate rise could take place at some point through the summer of 2019 at the earliest if inflation conditions warrant a move, ECB policy maker Francois Villeroy de Galhau said
Belgium hopes to sell bonds with super long maturities soon, while bankers say several other euro zone governments and state-linked bodies may follow suit as the European Central Bank mulls pushing long term borrowing rates even lower.
ICICI Lombard sells 17.7 Lk shares or 0.84% equity at Rs 270/sh
In pact with Reliance Nippon to sell Mutual Fund products
Nextgen Vakrangee Kendras to offer mutual fund distribution on pan India basis
Plans to sell part of se Asia biz as part of strategy to exit non scalable biz
To sell Singapore & Thailand units valuing them at $ 500Mn
Singapore & Thailand biz contributes 16% to revenues & 2% to EBITDA
To turn focus to domestic market
Avendus cap-KKR emerge as frontrunner to acquire IDFC MF
Offer of Rs 3,000-4,000 Cr made by FIN services firm