Rupee Appreciates Against Dollar Despite Lower Local Shares (22-Feb-2012)
Driven by continued capital inflows into stocks and debt Indian rupee appreciated against American currency on Wednesday despite of poor performance of the local equity markets. Demand for dollars from oil importers also restricted the rupee gains as oil import payments peak towards the end of a month. However since the start of January foreign funds have invested over $8 billion in Indian stocks and debt, according to the Securities and Exchange Board of India.
The partially convertible currency is currently trading at 49.24, stronger by 6 paise from its previous close of 49.30 on Tuesday. It has touched a high and a low of 49.2700 and 49.1850 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 49.08 and for Euro it stood at Rs 65.1705 on February 21, 2012. While, the RBI's reference rate for the Yen stood at 61.52 the reference rate for the Great Britain Pound (GBP) stood at 77.7973. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Top News Today
 National Thermal Power Corporation (NTPC) will be signing the fuel supply agreements' (FSA) with Coal India for 4,300 megawatts on 2009 terms. In these FSAs companies have change trigger level, which has
 After cellular market leader Bharti Airtel launched its 4G services, now Reliance Industries is reportedly gearing up to launch the services soon and has accordingly partnered with Himachal Futuristic
 Wipro's IT, consulting and outsourcing business Wipro Technologies is likely to introduce India Gateway internship programme for UK university students in July 2012. This internship program consists of
|
International Stock News
 US markets got a good bounce back on Monday with all major indices gaining more than 1%, it was one of the best session of the month. There was some M&A activity along with report that Chinese government
 US markets declined further on Friday, making it the worst week for the markets in 2012, as the most awaited Facebook (FB) IPO was only able to muster a slight gain in its public debut, while the eurozone
 Thursday proved another bad day for the US markets with major indices losing over one to two percent as eurozone debt contagion worries continued, coupled with disappointing economy news. A read on manufacturing
|
|
|