The Indian rupee eventually pull ahead from a six straight week of losses and ended with a solid 22 paise gain at 67.78 against the US currency, showing signs of a bullish resurgence after a rout.
World shares steadied and the dollar resumed its rise after a wobble caused by Trump’s decision to cancel a summit, though political risk put Italian markets on track for heavy weekly losses.
The rupee today rebounded from near 18-month lows to close with gains of 8 paise at 68.34 against the US dollar as the greenback fell against global currencies.
The rupee plummeted by 38 paise to hit a near 18-month low of 68.42 against the US dollar following relentless capital outflows amid concerns over macro conditions and surging crude oil prices.
Investors sold equities and raced to buy yen and government bonds from the US and Germany on fears that setbacks to U.S-China trade talks would undermine increasingly fragile-looking world growth.
The rupee staged a mild recovery after two sessions of decline and edged higher by 8 paise to end at 68.04 against the US dollar on fresh selling of the American currency by banks and exporters.
The rupee lost another 12 paise to close at fresh 16-month low of 68.12 against the US currency on sustained dollar demand from importers and corporates.
Stocks, oil prices and the dollar were on the rise after the US-China trade war was declared “on hold” while in Europe, Italy’s borrowing costs climbed and the Milan bourse retreated.
The rupee witnessed a virtual free fall plummeting sharply by a staggering 67 paise to end at a fresh 16-mth low of 68 against the US currency on heavy dollar demand amid global macro challenges.
The rupee once again turned shaky and plunged by 30 paise to end at a fresh 16-month low of 68 against the US currency on renewed dollar buying interest amid global macro challenges.
Bags EPC packages of Purvanchal Expressway in Uttar pradesh of Rs 1738 Cr
Approved buyback of 29 Lk shares amounting Rs 200.2 Cr
Tamil Nadu Pollution Control Board ordered disconnection of electricity
Disconnection is applicable for copper smelter unit-I at Thoothukudi district
Order requires closure of unit with immediate effect
Thoothukudi copper smelter unit has not been operating since Mar 27
Launched Silver Options, Total Traded Contract Value at Rs 34.36 Cr
Option Positions are physically settled & are European Style Options
Enters into merger talks with NSE For Universal Exchange Framework: Business Standard Reports
R Damani sells 0.8% Stake at Rs 1360.2/Sh
Deal Value at Rs 643 Cr