The Indian rupee experienced a minor recovery on Friday, appreciating by 6 paise to 85.07 against the US dollar in early trade. This comes after the rupee hit an all-time low of 85.13 on Thursday, underlining the ongoing pressure on the domestic currency. Forex traders indicated that the rupee is likely to remain in a weakening phase due to continued strong demand for the US dollar. The Dollar Index (DXY), which measures the greenback’s strength against a basket of six major currencies, is expected to stay elevated in the near term, with resistance near the 110 level. This follows reduced expectations for aggressive rate cuts by the US Federal Reserve in 2025, following its recent decision to lower rates by 25 basis points. On Wednesday, the Federal Reserve slashed interest rates by 25 basis points. However, the central bank’s forward guidance for 2025 has been softened, with expectations now lowered from four rate cuts to just two. This shift has further impacted the rupee, as traders adjust their expectations of future monetary policy actions. At the interbank foreign exchange market, the rupee opened at 85.07, marking a gain of 6 paise from its previous close. The domestic currency later traded at 85.10 against the dollar, remaining slightly above its historic low. On Thursday, the rupee fell by 19 paise, breaching the key 85.00 mark, and closed at an all-time low of 85.13. According to Amit Pabari, Managing Director of CR Forex Advisors, the Indian rupee is facing significant challenges from both global and local factors. While the Federal Reserve's cautious stance on rate cuts has led to a more than 1% correction in Indian equities, the Reserve Bank of India (RBI) appears limited in its ability to intervene effectively due to tightening liquidity in the banking system. Pabari predicted that in the short term, the USD/INR pair will likely consolidate within a range of 84.70 to 85.20. Meanwhile, the dollar index was trading 0.03% higher at 108.43, indicating further strength for the greenback. Brent crude, the global oil benchmark, fell by 0.62%, trading at USD 72.43 per barrel in futures. In the domestic equity markets, the 30-share benchmark Sensex was down by 145.13 points, or 0.18%, at 79,072.92, while the Nifty declined by 17.40 points, or 0.07%, to 23,934.30. Foreign Institutional Investors (FIIs) were net sellers on Thursday, offloading equities worth Rs 4,224.92 crore, according to exchange data. As per PTI, the rupee’s recent volatility is likely to continue, given the combination of global and domestic economic pressures. The currency is expected to remain sensitive to changes in US monetary policy, foreign fund flows, and global oil price fluctuations. (With inputs from PTI)
20 December,2024 10:20 AM IST | MumbaiIndian stock markets plunged sharply on Thursday, following a global sell-off triggered by the US Federal Reserve’s decision to scale back its rate cut projections for 2025. The Nifty 50 index dropped over 1.33 per cent, or 321 points, opening at 23,877.15, while the BSE Sensex plummeted by 1,153.17 points, or 1.44 per cent, to start at 79,029.03. The significant fall in Indian markets was driven by the global reaction to the US Federal Reserve's altered stance on interest rates. Previously, the market had anticipated more aggressive rate cuts in 2025, which were expected to stimulate economic growth and address inflation. However, the Fed’s more cautious approach has led to a ripple effect across international markets, creating a wave of selling pressure. Ajay Bagga, a banking and market expert, explained to ANI that "Risk off is hitting all markets today as the Fed projections of rate cuts for 2025 led to a steep sell-off in US stocks, Gold, Silver, EM currencies vs the US Dollar, and bond yields in the US going up. Asian markets are seeing the same sell-off today, and Indian markets are pointing to a gap-down opening due to the weak global cues." Sectoral indices across the National Stock Exchange (NSE) reflected the bearish sentiment, with all major sectors declining sharply at the start of trading. The biggest losses were seen in the Nifty IT, Nifty Metal, and Nifty PSU Bank indices. According to Akshay Chinchalkar, Head of Research at Axis Securities, "The Nifty is slated to open very weak. 24,000 is important support, but should we gap down below it, the next critical level lies at the November 28 trough of 23,873. Anything under this and the bullish head-and-shoulders pattern with a target of 25,500 will have failed, and the 23,300 lows will become vulnerable again. Immediate resistance lies at 24,500." As of the latest updates, only three stocks in the Nifty 50 index were in the green, with Dr. Reddy’s, Hindustan Unilever, and ITC being the lone gainers. In contrast, 47 stocks saw declines, underscoring the widespread selling pressure. Other Asian markets followed the same downward trajectory, with Japan's Nikkei 225 index falling by 0.96 per cent, Hong Kong’s Hang Seng index dropping 1.06 per cent, South Korea’s market retreating by 1.58 per cent, and Taiwan’s Weighted Index losing 1.35 per cent. The US stock markets also saw significant losses after the Fed’s projections. The S&P 500 dropped 2.95 per cent, shedding 178 points to close at 5,872, while the tech-heavy Nasdaq lost 3.28 per cent, falling by 658 points to end at 19,450. AS PER ANI, the reduced rate cut expectations from the Federal Reserve have triggered a broad-based sell-off, dampening investor sentiment worldwide. This trend is expected to continue as markets adjust to the more cautious outlook for the global economy in 2025. (With inputs from ANI)
19 December,2024 09:58 AM IST | MumbaiThe Indian rupee dropped 12 paise to a record low of 85.06 against the US dollar in early trade on Thursday. The decline comes in the wake of a hawkish stance from the US Federal Reserve, which has spurred a broad rally in the dollar. Forex traders indicated that the US Federal Reserve’s adjustment of its projections for 2025, signalling a more cautious monetary policy, is putting pressure on emerging market currencies, including the Indian rupee. The rupee opened weakly at the interbank foreign exchange market and swiftly breached the key 85.00 mark, further sliding to its all-time low of 85.06 against the greenback. This marked a 12 paise fall from its previous close, driven by strong demand for the dollar from importers, foreign fund outflows, and a lacklustre trend in domestic equities, which dampened investor sentiment. On Wednesday, the rupee had already slipped 3 paise, closing at another all-time low of 84.94 against the US dollar. The ongoing pressure on the rupee was attributed to a strengthening US dollar, which surged to a two-year high of 108.04, coupled with a rise in US 10-year bond yields to 4.51 per cent. Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, commented that despite a 25 basis point rate cut by the US Federal Reserve, its hawkish outlook had kept the dollar firm. The Fed indicated that it might take another one or two years to bring inflation down to 2 per cent, with further rate cuts of 50 basis points expected in 2025 and another 50 basis points in 2026. AS PER PTI, Bhansali noted that the broad sell-off across equities, commodities, and bonds had propelled the dollar, and the rupee may face a slow and steady depreciation going forward. While the Reserve Bank of India (RBI) is expected to defend key levels, it may not alter the broader trend, he added. In international markets, the dollar index, which tracks the greenback’s performance against a basket of six currencies, was up by 0.01 per cent, trading at 108.03. Meanwhile, Brent crude, the global oil benchmark, fell 0.42 per cent to USD 73.08 per barrel in futures trade, influenced by the surging dollar and a more cautious Fed stance. On the domestic front, the equity market also felt the pressure. The BSE Sensex was trading down by 910.95 points, or 1.14 per cent, at 79,271.25, while the Nifty had dropped by 281.15 points, or 1.16 per cent, to 23,917.70. Additionally, Foreign Institutional Investors (FIIs) sold off Rs 1,316.81 crore in the capital markets on a net basis, as per exchange data. The rupee’s decline highlights the growing challenges in the currency market, driven by global and domestic factors that continue to weigh heavily on investor confidence. (With inputs from PTI)
19 December,2024 09:49 AM IST | MumbaiBenchmark indices, Sensex and Nifty, experienced a decline in early trade on Monday, in line with weak global market trends and caution ahead of the Wholesale Price Index (WPI) inflation data due to be released later in the day. The 30-share BSE Sensex dropped by 215.59 points to 81,917.53 in early trade, while the NSE Nifty fell by 49.45 points to 24,718.85. The decline came as investors adopted a cautious approach, awaiting important economic data and analysing global market developments. Among the 30 Sensex stocks, major laggards included JSW Steel, Titan, Bharti Airtel, Nestle, Mahindra & Mahindra, Tata Consultancy Services (TCS), NTPC, and Sun Pharma, which contributed significantly to the market's fall. On the other hand, ITC, Reliance Industries, UltraTech Cement, Bajaj Finance, IndusInd Bank, and Asian Paints were among the gainers, providing some support to the market. In Asian markets, sentiment was largely negative with major stock markets such as Seoul, Tokyo, and Hong Kong trading lower. However, Shanghai bucked the trend and was in the green, showing some resilience in an otherwise weak regional market. On Friday, Wall Street closed mostly lower, further contributing to global uncertainties. Ameya Ranadive, a Chartered Market Technician and Senior Technical Analyst at StoxBox, commented that stock markets in India were likely to remain cautious due to mixed global cues. Investors are particularly awaiting the US Federal Reserve's policy rate decision later this week, which is expected to influence investor sentiment globally. Foreign Institutional Investors (FIIs) continued their buying spree, purchasing equities worth Rs 2,335.32 crore on Friday, according to exchange data. However, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, cautioned that while FIIs have turned net buyers in December after several months of relentless selling, the future direction of their investments is uncertain. Factors such as a strong US dollar and high bond yields in the US remain potential headwinds for capital flows into emerging markets like India. Meanwhile, global oil prices also showed a slight dip, with Brent crude falling 0.31 per cent to USD 74.26 per barrel, adding to the prevailing caution in the market. On Friday, the Sensex had gained 843.16 points or 1.04 per cent, settling at 82,133.12, while the Nifty had climbed 219.60 points or 0.89 per cent to end at 24,768.30. However, the early morning decline suggests that market sentiment remains fragile amid ongoing global and domestic uncertainties. (With inputs from PTI)
16 December,2024 10:11 AM IST | MumbaiThe Indian rupee weakened by 3 paise to 84.83 against the US dollar in early trading on Monday, driven by a muted trend in domestic equities and rising crude oil prices. Forex traders noted that the rupee continues to be under pressure due to persistent dollar demand from importers and foreign banks. At the interbank foreign exchange market, the rupee opened at 84.83, marking a 3 paise drop from its previous close of 84.80. On Friday, the rupee had recovered from its all-time low, closing with a gain of 8 paise at 84.80 against the greenback. However, in the past week, the Indian currency saw depreciation after the Reserve Bank of India (RBI) announced a leadership transition. Despite this, the RBI has remained vigilant, monitoring banking system liquidity closely and using buy-sell swaps to provide support to the rupee. Experts suggest that the weakening rupee trend is primarily driven by the demand for dollars. Amit Pabari, Managing Director of CR Forex Advisors, mentioned that Foreign Institutional Investors (FIIs) have turned net buyers in December, following large outflows in previous months, and this could lend further stability to the domestic currency. According to exchange data, FIIs bought Rs 2,335.32 crore worth of equities on a net basis on Friday. Meanwhile, the dollar index, which measures the greenback's strength against a basket of six major currencies, was trading lower by 0.13 per cent at 106.86. Additionally, Brent crude, the global oil benchmark, dropped by 0.34 per cent to USD 74.24 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex was down by 78.29 points or 0.10 per cent, trading at 82,054.83 points in the morning session. Similarly, the Nifty index fell by 15.45 points or 0.06 per cent, settling at 24,752.85 points. As per the latest data from the RBI, India's foreign exchange reserves declined by USD 3.235 billion to USD 654.857 billion for the week ended December 6. In the previous week, the reserves had increased by USD 1.51 billion to USD 658.091 billion, following a period of decline. PTI reports. (With inputs from PTI)
16 December,2024 10:05 AM IST | MumbaiThe Indian stock market witnessed a sharp decline in early trade on Friday, with both benchmark indices – the Sensex and Nifty – slumping due to a pullback in metal stocks, foreign fund outflows, and weak global cues. The 30-share BSE Sensex plummeted by 412.8 points, settling at 80,877.16, while the NSE Nifty tanked 129.85 points to 24,418.85 in the initial hours of trade. Among the blue-chip stocks of the Sensex, metal stocks bore the brunt of the sell-off, with Tata Steel and JSW Steel registering notable losses. Other major laggards included IndusInd Bank, Axis Bank, Mahindra & Mahindra, Larsen & Toubro, State Bank of India, and Reliance Industries. On the other hand, stocks such as Bharti Airtel, Nestle, Adani Ports, and Hindustan Unilever saw gains during the early trade session. The negative sentiment was exacerbated by foreign institutional investors (FIIs), who offloaded equities worth ₹3,560.01 crore on Thursday, according to exchange data. This continued outflow of foreign funds has been a key factor in dragging the market lower. Analysts believe that given India’s high stock valuations, FIIs are likely to continue their selling spree, especially at every market rise. Despite the bearish trend in the market, there are some positive factors that may provide support in the near term. A key tailwind is the recent decline in India's retail inflation, which fell to 5.48 per cent in November, entering the Reserve Bank of India’s (RBI) comfort zone. The decline was largely attributed to easing food prices, creating potential room for a rate cut at the RBI’s rate-setting panel meeting in February under the new leadership of Governor Sanjay Malhotra. However, the country's industrial production (IIP) growth showed signs of slowing down, with a 3.5 per cent year-on-year growth in October, primarily due to poor performance in sectors like mining, power, and manufacturing. This further dampened investor sentiment. Commenting on the market outlook, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned, “In the near term, the market faces both a headwind and a tailwind. The headwind is the resumed selling by FIIs, which sold stocks worth ₹3,560 crore yesterday. Given the high valuations, FIIs are likely to sell more during every market rise. The tailwind supporting the market is the decline in inflation.” Global markets also contributed to the negative sentiment, with Asian indices like Tokyo, Shanghai, and Hong Kong trading lower, while Seoul posted a marginal gain. Wall Street had ended in the red the previous day, further fuelling concerns. In commodities, the global oil benchmark, Brent crude, slipped by 0.04 per cent to USD 73.38 a barrel. On Thursday, the Sensex had fallen by 236.18 points or 0.29 per cent, closing at 81,289.96. The Nifty also closed down by 93.10 points or 0.38 per cent at 24,548.70, marking a continuation of the downward trend in the stock market. As per PTI reports, the continued volatility in the markets suggests that the upcoming interest rate decision by the Federal Reserve on December 18 could further heighten market uncertainty, keeping investors on edge. (With inputs from PTI)
13 December,2024 10:22 AM IST | MumbaiThe Indian rupee has managed to recover slightly from its record low, gaining 5 paise to trade at 84.83 against the US dollar in early Friday trade. This recovery was largely attributed to favourable domestic inflation data, which showed a decline in retail inflation in November, bringing it within the Reserve Bank of India’s target range. The rupee opened at 84.85 on the interbank foreign exchange market, and inched up to 84.83, marking a 5 paise gain from its previous close. On Thursday, the rupee had ended at an all-time low of 84.88 against the dollar, following a loss of 5 paise. The previous record low was seen on December 9, when the rupee closed at 84.86. While the rupee showed signs of recovery, forex traders noted that the gains were capped by a strengthening US dollar and ongoing volatility in the domestic equity markets, exacerbated by foreign fund outflows. The dollar index, which measures the greenback’s strength against a basket of six major currencies, was up by 0.12 per cent at 106.77. According to official data released on Thursday, India’s retail inflation dropped to 5.48 per cent in November, primarily due to falling food prices. This decline has created room for the Reserve Bank of India to consider a rate cut in its upcoming policy review meeting under new Governor Sanjay Malhotra in February. However, the country's industrial production growth (IIP) slowed to 3.5 per cent in October 2024, largely due to weak performance in mining, power, and manufacturing sectors. Despite the inflation data providing some optimism for the rupee, the ongoing strength of the US dollar, which surged following US inflation figures coming in as expected, limited the rupee's recovery. The prospect of a potential interest rate cut by the US Federal Reserve added to the greenback's strength. Meanwhile, Brent crude oil prices saw a modest increase, rising by 0.01 per cent to USD 73.42 per barrel in futures trade. On the domestic front, the equity markets remained under pressure, with the Sensex falling by 388.68 points (0.48 per cent) to 80,901.28, while the Nifty dropped by 115.20 points (0.47 per cent) to 24,433.50 points. Both indices ended lower on Thursday. In addition, Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday, offloading shares worth Rs 3,560.01 crore, as per exchange data. As per PTI, the rupee's movement continues to reflect a complex interplay of domestic inflation data, external factors like the dollar's strength, and market dynamics, with a cautious outlook in the near term.
13 December,2024 09:45 AM IST | MumbaiThe Indian rupee slipped by 2 paise to a near all-time low of 84.85 against the US dollar in early trade on Thursday, primarily due to foreign fund outflows and an uptick in crude oil prices. Forex traders noted that the rupee was also under pressure from an elevated dollar index and the muted performance of domestic equity markets, while market participants were awaiting domestic inflation data scheduled for release later in the day. At the interbank foreign exchange market, the rupee opened at 84.85 against the dollar, marking a decline of 2 paise from its previous closing level of 84.83. On Wednesday, the Indian currency had gained 2 paise against the greenback, closing at 84.83. The dollar index, which measures the strength of the US dollar against a basket of six major currencies, was trading slightly lower by 0.12 percent at 106.26, providing some relief to the rupee. However, the price of Brent crude oil, a key factor influencing India's import costs, rose by 0.12 percent to USD 73.61 per barrel in futures trade, which added to inflation concerns. In the domestic equity markets, the benchmark Sensex was trading with a modest gain of 53.59 points, or 0.07 percent, at 81,579.73, while the Nifty gained 2.10 points, or 0.01 percent, to reach 24,643.90 points. Both indices had closed the previous session with marginal gains. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, offloading shares worth Rs 1,012.24 crore, according to exchange data. This outflow of foreign funds contributed to the downward pressure on the rupee. As per PTI, the rupee’s current weakness comes amid heightened global uncertainties, including concerns about rising oil prices and inflationary pressures. Market experts suggest that the domestic currency may remain under pressure in the near term, with investors closely monitoring upcoming economic data and global financial trends. PTI reports that while the rupee’s depreciation is concerning, the overall economic fundamentals, including the growth outlook and forex reserves, continue to provide some support against major currency fluctuations. However, analysts warn that unless global crude prices stabilise and foreign fund inflows improve, the rupee could face further pressure in the coming weeks. (With inputs from PTI)
12 December,2024 09:41 AM IST | MumbaiThe Indian rupee regained some ground in early trade on Tuesday, rising by 8 paise to 84.78 against the US dollar. This recovery follows a period of sustained decline and is primarily attributed to fresh foreign fund inflows and a positive sentiment in domestic equities. The rupee had previously hit an all-time low on Monday, marking its steepest fall in over a month. At the interbank foreign exchange, the rupee opened at 84.80 and traded within a narrow range, briefly touching 84.78, before settling at 84.82 against the greenback. On Monday, the rupee had plunged 20 paise to close at a record low of 84.86 against the dollar. Forex traders noted that the recent change in leadership at the Reserve Bank of India (RBI) added an element of uncertainty to the currency market. The government appointed Revenue Secretary Sanjay Malhotra as the new RBI Governor, a move that has garnered mixed reactions. Analysts highlighted that Malhotra’s approach, which focuses on prioritising economic stability over revenue concerns, may bring shifts in monetary policies. CR Forex Advisors' Managing Director, Amit Pabari, commented on the potential impact, emphasising the uncertain outlook in light of Shaktikanta Das’s departure, as his tenure was instrumental in safeguarding the rupee from significant declines. The dollar index, which measures the strength of the US dollar against a basket of six major currencies, was stable at 106.15, remaining unchanged from its previous close. In global markets, Brent crude oil prices slipped by 0.36 per cent, trading at USD 71.88 per barrel in futures. The rupee’s volatility is expected to continue as the market awaits clarity on the policies of the newly appointed RBI Governor. Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP, indicated that the weakness of the rupee is likely to persist unless the new governor takes significant steps to address it. In the domestic equity markets, the 30-share benchmark Sensex was up by 83.08 points, or 0.10 per cent, trading at 81,591.54, while the Nifty rose by 23.35 points, or 0.09 per cent, to 24,642.35 points. Foreign Institutional Investors (FIIs) continued to be net buyers, purchasing shares worth Rs 724.27 crore on Monday, as per exchange data. PTI reports suggest that the market's trajectory may depend on the upcoming actions of the RBI’s new leadership as well as external global factors, including fluctuations in crude oil prices and global inflation trends. (With inputs from PTI)
10 December,2024 10:55 AM IST | MumbaiThe equity benchmark indices, Sensex and Nifty, rebounded in early trade on Tuesday following two consecutive days of losses. The rebound was driven by value-buying at lower levels and a rally in major blue-chip stocks such as Infosys and HDFC Bank. According to PTI reports, the BSE benchmark Sensex surged 193.17 points, or 0.24%, to reach 81,701.63 during the early hours of trading. Similarly, the broader NSE Nifty rose 47.40 points, or 0.19%, to stand at 24,666.40. From the 30-share Sensex pack, several stocks saw significant gains, including Bajaj Finserv, Tata Motors, Infosys, Bajaj Finance, HCL Technologies, Titan, and Kotak Mahindra Bank. These stocks helped the indices gain momentum in the early session. However, some stocks in the Sensex index experienced losses. Among the laggards were Mahindra & Mahindra, Bharti Airtel, Tech Mahindra, UltraTech Cement, Reliance Industries, and Maruti. The positive market sentiment was further buoyed by fresh foreign fund inflows and a strong rally in Asian markets. The markets in Seoul, Tokyo, Hong Kong, and Shanghai all recorded gains as investors reacted to news that China’s top leaders had indicated a more aggressive stimulus package for the next year to revive the country's economy. According to Deepak Jasani, Head of Retail Research at HDFC Securities, Asian equities advanced on the back of these signals from China. In contrast, US markets closed lower in the overnight session on Monday, with global oil benchmark Brent crude falling by 0.29% to USD 71.93 per barrel. Foreign Institutional Investors (FIIs) were net buyers of equities, purchasing shares worth Rs 724.27 crore on Monday. On the other hand, Domestic Institutional Investors (DIIs) sold shares amounting to Rs 1,648.07 crore, as per exchange data. On Monday, the BSE Sensex had closed 200.66 points lower at 81,508.46, while the NSE Nifty fell by 58.80 points, settling at 24,619. As per PTI, the ongoing rally in key Asian markets, coupled with foreign fund inflows, is expected to help the indices maintain their upward momentum as the trading day progresses. (With inputs from PTI)
10 December,2024 10:51 AM IST | MumbaiThe Indian rupee depreciated by 7 paise to 84.73 against the US dollar in early trade on Monday, primarily weighed down by foreign fund outflows and a lacklustre performance in domestic equities. Forex traders noted that the rupee continues to face pressure due to consistent demand for the US dollar from importers and foreign banks. The rupee opened at 84.70 against the greenback, and quickly fell to 84.73 in the initial hours of trading, marking a 7 paise drop from its previous close. On Friday, the rupee had gained 5 paise, ending at 84.66 against the US dollar. Amit Pabari, MD of CR Forex Advisors, highlighted that attention will now shift towards upcoming domestic economic data, such as the Industrial Production (IIP) and Consumer Price Index (CPI) figures. These will be closely watched after the Reserve Bank of India’s (RBI) recent monetary policy announcement. The RBI had decided to keep its key interest rate unchanged, citing concerns over inflation, but had lowered the Cash Reserve Ratio (CRR) by 50 basis points, injecting much-needed liquidity into the financial system. Pabari also pointed out that while the rupee has faced downward pressure, expectations of a surge in Initial Public Offering (IPO) activities in the near term could lead to substantial foreign inflows, potentially providing additional support for the rupee. Despite these factors, he believes the rupee’s downside remains limited, predicting that the USD/INR pair will likely trade within a range of 84.50 to 85 in the short term. Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six major currencies, was trading 0.08% higher at 106.14. On the commodity front, Brent crude prices rose by 0.08% to USD 106.15 per barrel in futures trade. In the domestic equity market, the BSE Sensex was down by 76.29 points or 0.09%, trading at 81,632.83 points, while the Nifty fell by 24.20 points, or 0.1%, to 24,653.60 points. Foreign Institutional Investors (FIIs) had also offloaded a net Rs 1,830.31 crore in the capital markets on Friday, according to exchange data. In positive news, India’s foreign exchange reserves increased by USD 1.51 billion, reaching USD 658.091 billion for the week ended November 29, as reported by the RBI. This was an improvement after reserves had declined by USD 1.31 billion in the previous week. As per PTI, the movement of the rupee continues to be shaped by external and domestic market factors, with attention on liquidity trends and economic indicators moving forward. (With inputs from PTI)
09 December,2024 10:14 AM IST | MumbaiADVERTISEMENT
