Close X
Wednesday, November 27, 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

Sahara Group founder Subrata Roy passes away at 75 after prolonged illness

Sahara Group founder Subrata Roy passes away at 75 after prolonged illness
'Saharasri' Subarata Roy, the founder of Sahara India Pariwar, breathed his last on Tuesday following a cardiac arrest after a prolonged illness. He was 75. Mourning the demise of Roy, the Sahara India Group said in a statement, "With profound sadness, the Sahara India Pariwar informs the demise of our ‘Saharasri’ Subrata Roy Sahara, Managing Worker and Chairman, Sahara India Pariwar.

Sahara Group founder Subrata Roy passes away at 75 after prolonged illness

13 people, including 10 kids, in Rajasthan lose eyesight due to firecracker accidents

13 people, including 10 kids, in Rajasthan lose eyesight due to firecracker accidents
A total of 13 people, including 10 children, across several cities of Rajasthan including Jaipur, Jhunjhunu, and Bharatpur lost sight in at least one eye while bursting firecrackers on Diwali, doctors said. This figure was reported after three days of surgery in the eye department of Sawai Mansingh (SMS) Hospital here, with the patients suffering damage to their cornea and retina.

13 people, including 10 kids, in Rajasthan lose eyesight due to firecracker accidents

Punjab: Passengers vandalise Sirhind Rly station over cancellation of Bihar-bound special train

Punjab: Passengers vandalise Sirhind Rly station over cancellation of Bihar-bound special train
According to Northern Railway officials, some angry passengers reportedly pelted stones after they came to know that the train which was supposed to leave for Katihar was cancelled. Meanwhile, Northern Railway CPRO Deepak Kumar said that connecting rake got delayed and the train was put back at 3 a.m. He said that regular announcements have been made at the railway station.  

Punjab: Passengers vandalise Sirhind Rly station over cancellation of Bihar-bound special train

Sonia Gandhi on personal visit to Jaipur to avoid air pollution in Delhi: Jairam Ramesh

Sonia Gandhi on personal visit to Jaipur to avoid air pollution in Delhi: Jairam Ramesh
In a post on X, Congress General Secretary (Communication) Jairam Ramesh said, "Chairperson of Congress Parliamentary Party Smt. Sonia Gandhi is in Jaipur for the next few days to avoid the air pollution in New Delhi. It is a purely personal visit." He said that Rahul Gandhi will be based in Jaipur and campaign in Chhattisgarh on November 15 and in Rajasthan on November 16, 19, 21 and 22.

Sonia Gandhi on personal visit to Jaipur to avoid air pollution in Delhi: Jairam Ramesh

Delhi Police arrests two cyber fraudsters for cheating over 100 people

Delhi Police arrests two cyber fraudsters for cheating over 100 people
Delhi Police has arrested two cyber fraudsters for allegedly duping over 100 people on pretext of selling them iron road/TMT bars at cheaper rates after publishing advertisements on social media, an officer said on Friday. The accused were identified as Deepak Kumar (28) and Jitendra Kumar (32), both are residents of Bihar.

Delhi Police arrests two cyber fraudsters for cheating over 100 people

'Playing with fire': SC comes down heavily on Punjab Governor for withholding assent on bills

'Playing with fire': SC comes down heavily on Punjab Governor for withholding assent on bills
The Supreme Court on Friday came down heavily on the Punjab Governor for withholding assent to the bills passed by the state legislature. A bench, headed by CJI D.Y. Chandrachud, said that the Governor and the elected government being at loggerheads is a matter of "serious concern".  

'Playing with fire': SC comes down heavily on Punjab Governor for withholding assent on bills