Close X
Saturday, November 23, 2024
ADVT 
India

Rupee rises for 6th day in a row

Darpan News Desk IANS, 10 Jan, 2024 02:04 PM
  • Rupee rises for 6th day in a row

Mumbai, Jan 10 (IANS) The Indian rupee recovered early losses to end higher for a sixth straight day on Wednesday as expectations rose about more foreign funds flowing in.

The rupee settled at 83.0350 vis-a-vis the U.S. dollar, its highest closing level since December 15 up from 83.1150 in the previous session.

The Indian currency opened lower and fell to an intraday low of 83.18 earlier in the day, before rising again to an over three-week high of 82.98 in the session.

"The rupee experienced volatility, ranging between 83.18 (on the weaker side at the opening) and 82.98 (on the higher side after an initial dip below 83.15). The rupee gained, with buyers becoming more assertive within the range-bound movements. The overall trend remains sideways, and rupee movements are influenced by range-bound volatility,” said Jateen Trivedi, VP Research Analyst, LKP Securities.

He said that the upcoming US CPI data, scheduled for Thursday evening, is expected to play a crucial role in determining the trend of the US dollar, with potential effects on the rupee as well.

The U.S. consumer inflation data will indicate the probability of a Fed interest rate cut to spur growth. Investors see a high probability of rate cuts going ahead if consumer inflation comes down.

MORE India ARTICLES

India conducts successful training launch of short-range Agni-1 missile

India conducts successful training launch of short-range Agni-1 missile
The Defence Ministry on Thursday said that a successful training launch of the short-range ballistic missile 'Agni-1' has been conducted, an official said. The training launch was carried out from APJ Abdul Kalam Island in Odisha.  

India conducts successful training launch of short-range Agni-1 missile

India's Q2 growth has been highest in the world: Sitharaman

India's Q2 growth has been highest in the world: Sitharaman
Addressing the Rajya Sabha during the Winter Session of the Parliament while replying to a debate on the economic situation in the country which was held over three days with the participation of many members, Sithraman said that the manufacturing sector has contributed significantly to the economy on the back of various measures like PLI schemes. 

India's Q2 growth has been highest in the world: Sitharaman

PM expresses grief over loss of live due to Cyclone Michaung

PM expresses grief over loss of live due to Cyclone Michaung
Prime Minister Narendra Modi on Wednesday expressed deep grief over the loss of lives due to Cyclone Michaung, especially in Tamil Nadu, Andhra Pradesh and Puducherry. Modi also prayed for those injured or affected in this cyclone and said that authorities are working tirelessly on the ground to assist those affected and will continue their work till the situation fully normalises.

PM expresses grief over loss of live due to Cyclone Michaung

Govt blocks 100 websites involved in job scams, illegal investments

Govt blocks 100 websites involved in job scams, illegal investments
The government in a statement on Wednesday said that the Indian Cybercrime Coordination Centre (I4C), an initiative of the Ministry of Home Affairs, through its vertical NCTAU had last week identified and recommended over 100 websites involved in organised investment or task-based part-time job frauds. "Ministry of Electronics and Information Technology (MeitY), invoking its power under the Information Technology Act, 2000, has blocked these websites," the government said.

Govt blocks 100 websites involved in job scams, illegal investments

Over 400 arrested for touting at Delhi's IGI airport this year

Over 400 arrested for touting at Delhi's IGI airport this year
Over 400 individuals have been arrested this year for touting at Indira Gandhi International (IGI) Airport, more than double compared to last year, a Delhi Police official said. Persistent issues of inconvenience and harassment to passengers have prompted authorities to take decisive action against unauthorised solicitation, the official added.

Over 400 arrested for touting at Delhi's IGI airport this year

Multi-crore rupees scam: Punjab cops nab fugitive Mumbai fraudster's dad from Gujarat

Multi-crore rupees scam: Punjab cops nab fugitive Mumbai fraudster's dad from Gujarat
According to Sohana Police (formerly, Mohali) official Mukesh Sinha, the accused Shailesh Mehta, 71, was nabbed from his purported hideout at an old-age home in Ahmedabad following a FIR registered after a complaint lodged by Punjab businessman Viresh Singhal.

Multi-crore rupees scam: Punjab cops nab fugitive Mumbai fraudster's dad from Gujarat