The rupee depreciated to a fresh low of 84.38 per dollar on Thursday as foreign investors continued to sell domestic equities and crude oil prices rose.
The caution ahead of the US Federal Reserve meeting outcome further weighed on the Indian unit.
Market participants said that with strengthening dollar and rise in US yields after the US presidential election results, the Reserve Bank of India (RBI) has been allowing gradual depreciation of the rupee in line with its Asian peers.
The local currency had touched a new low of 84.28 per dollar on Wednesday after Republican candidate Donald Trump won the 47th United States (US) presidential election decisively, defying expectations and securing a greater number of votes than Kamala Harris.
Bu hikaye Business Standard dergisinin November 08, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin November 08, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
False solutions for climate change
As the ghastly impacts of climate change become more visible in our everyday lives, it is hard to shake off the feeling that one must step up and do something constructive.
Expats to residents, Delhi's air is driving people out
Embassies have stepped up efforts to deal with the situation; WFH option has residents temporarily relocating to their hometowns
Making sense of census
For all marketing professionals working in large companies, the population census of India is a treasure trove of information.
MONEY CAN BUY YOU STARS
What's behind West Asia's multi-billion charm offensive to become a destination for all kinds of sports stars?
Ensure low tracking error, alignment with risk appetite
Exchange-traded funds (ETFs) witnessed a sharp rise in subscriptions in October, with net investments totalling ₹13,441 crore, compared to ₹381 crore in the previous month, according to data from the Association of Mutual Funds in India (Amfi).
Strong order book to stand BEL in good stead
Brokerages mostly positive on the stock
Strong Q2, growth outlook drive gains for Info Edge
The stock of online classified major Info Edge (India) was up over 6 per cent on Friday on expectations of demand improvement for Indian IT companies.
Regulator nod to Roshni Nadar to acquire majority stake in HCLTech
The Securities and Exchange Board of India (Sebi) on Friday gave nod to Roshni Nadar to acquire majority shareholding from her father Shiv Nadar, founder of HCL Group, in two promoter group companies.
Green energy stocks fail to benefit from selloff in Adani Green
Six of the eight stocks operating in the green energy space declined on Friday, failing to benefit from the rout in Adani Green Energy's decline over the last two sessions.
NTPC Green Energy IPO booked 2.40x on Day 3
The initial public offering (IPO) of NTPC Green Energy Ltd, the renewable energy arm of NTPC, was subscribed 2.40 times on the closing day of the share sale on Friday.
