Business

Rupee records biggest gain in two months after exit poll results

The rupee Monday appreciated by 49 paise, the biggest single-day gain in two months, to close at 69.74 against the US dollar following sharp gains in equities and forex inflows after exit polls suggested another term for the ruling NDA government. Forex traders said investors welcomed exit poll results that predicted a thumping majority for the current BJP-led government. 
At the interbank foreign exchange, the domestic unit opened at 70.36 and advanced to a high of 69.44 during the day. The currency finally settled at a nearly two-week high of 69.74, registering a rise of 49 paise or 0.70 per cent against the dollar over its previous close. On Friday, the rupee had settled at 70.23 against the US dollar.

This is the biggest single-day for the rupee since March 18 when the currency had zoomed by 57 paise or 0.82 per cent. According to WGC Wealth Chief Investment Officer Rajesh Cheruvu, India saw a remarkable strengthening in its currency after exit polls and some de-coupling of the INR from other emerging currencies could be seen over the next few trading sessions. 

High Gold Prices Impact Buying Sentiment; Sale Of Scrap Gold Increases

In India, tracking the global gold prices which have scaled to six-year peak levels have gone to levels not seen before owing to the indirect tax elem...

Sensex falls over 150 points, IT stocks drag

Domestic equity benchmark BSE Sensex fell over 150 points in early trade on Tuesday tracking losses in IT stocks amid weak cues from other Asian marke...

Rupee rises 13 paise to 69.22 vs US dollar in early trade

The rupee appreciated by 13 paise to 69.22 against the US dollar in opening trade on Tuesday, driven by easing crude oil prices and weakening of the U...

Samsung launches 2 new tablets in India

Strengthening its product portfolio in the stagnant tablet segment in India, Samsung on Monday launched Galaxy Tab S5e and Galaxy Tab A 10.1 which sta...