Rupee recovers from all-time low against USD, supported by strong domestic equity markets amid foreign fund outflows

Capitalisation of BSE-listed companies jumped by nearly ₹1.35 lakh crore to ₹4,63,62,781.71

This is the largest IPO in India, surpassing LIC's initial share sale of ₹21,000 crore.

On Tuesday (October 15, 2024), the rupee witnessed a range-bound trade and appreciated 1 paisa to 84.04 against the U.S. dollar

The dollar index, which gauges the greenback's strength against a basket of six currencies, was marginally down by 0.01% to 103.25 points.

The rupee strengthens against dollar on softer oil prices and RBI intervention, while trade deficit narrows and impacts currency

The ₹27,870 crore initial share sale got bids for 14,07,68,187 shares against 9,97,69,810 shares on offer, translating into 1.41 times the subscription, as per NSE data till 13:21 hours

The IPO received lowest retail subscription among some of the big IPOs that had hit the Indian capital markets

On Thursday, the rupee weakened by 4 paise to close at 84.06 against the U.S. dollar.

Sustained outflow of foreign funds and an upward momentum in the crude oil prices weighed on the local unit, forex traders said

Equity markets open strong but later decline; HDFC Bank gains, Kotak Mahindra Bank falls, global markets mixed

“Investors remained cautious and stayed away from riskier assets due to geopolitical uncertainties,” forex dealers said

This is the biggest ever IPO to have ever hit in the Indian capital markets

At the interbank foreign exchange, the rupee opened at 84.07 against the greenback and traded on a flat note in early deals

The local unit was also weighed down by elevated crude oil prices as well as firm American currency amid rising U.S. treasury yields, forex traders said.

Forex traders said a downward trend in domestic equity markets and elevated level of crude oil prices prevented a recovery in the Indian currency.

Hyundai shares climbed 5.91% to ₹1,928.15 from the previous close on the BSE. At the NSE, the stock surged 6% to ₹1,928.90

The rupee remains flat against the dollar amid oil prices, foreign fund withdrawals, and market

At the interbank foreign exchange market, the domestic unit opened at 84.06 against the greenback and remained almost standstill throughout the session

Forex traders said, the indication of some recovery in domestic equity markets prevented the fall in the local unit.

Leader of the Opposition in the Lok Sabha Rahul Gandhi said Ms. Buch was being protected from giving answers to Parliament, from resigning as SEBI chief and from an investigation into her alleged links with the Adani Group companies. Ms. Buch had skipped the PAC meeting citing personal reasons

BlackRock and Canada Pension Plan Investment Board will invest in the $1.4 billion IPO, which will be the country’s second-biggest stock offering this year

The rupee trades range-bound, appreciates slightly against USD and impacted by foreign fund outflows and strong dollar

The local currency touched its lowest closing level of 84.10 against the dollar on October 11.

Forex traders said the strength of the American currency in overseas markets dented investor sentiments, while easing crude oil prices and any intervention by the Reserve Bank of India (RBI) may support the local currency at lower levels

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback. It traded in a tight range and ended the day at 84.09 (provisional), down 4 paise from its previous close

Why is gold considered a safety cushion by central banks? When does demand for the yellow metal peak in India? Why does the World Gold Council expect an increased demand for gold from rural areas? What factors determine gold prices?

The rupee rises slightly against dollar amid strong dollar and foreign fund outflows; RBI intervention expected to support local currency

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.08% lower at 103.91

Forex traders watch U.S. election impact on markets as rupee hits record low against dollar, with RBI intervention expected

Rupee recovers slightly against U.S. dollar amid election uncertainty, FII outflows, and volatile global markets

U.S. stocks rally on election day, with S&P 500 and Dow Jones climbing, despite uncertainty over results

The U.S. Fed is expected to announce a rate cut in a meeting scheduled later this week, with further easing of up to 100 basis points projected for 2025

Forex traders said RBI interventions will keep the USD/INR pair between 83.80 and 84.35. Moreover, the U.S. Federal Reserve monetary policy and officials' comments will be in focus to derive further momentum

The rupee touched fresh record lows again on the back of weak domestic equities and sustained FII outflows

Air travel in Tamil Nadu could see a boom over the next few years as significant infrastructure development is in the offing at airports in tier 2 cities across the State. With the State government keen on ensuring distributed growth, strengthening the aviation infrastructure could be a stimulus to the regional economic development as enhanced air connectivity is expected to help attract investment, trade, and tourism

Policewomen nominated under this initiative will visit schools and colleges every 15 days to ascertain concerns and grievances of students and render assistance

The initiative is being organised by Chennai Volunteers, a social initiative of the Giving Matters Foundation, a not-for-profit organisation, in collaboration with the Portobello Institute, Ireland

Eight long-pending non-bailable warrants were successfully executed, and two arrests made under the Arms Act for possession of dangerous weapons

The schools are assessed based on including basic infrastructure, quality of education and teaching practices, technology-enabled teaching, development of the school, and activities done by students

The removal of the footpaths will help increase the width of the carriageway at points where lanes on either side of the median will be barricaded

While the 24.50-km package from Walajapet to Arakkonam has the most progress, with over 84% of the work being carried out, the Arakkonam to Kancheepuram package has the least progress with about 52%

The NIA sleuths will interrogate them in custody till November 14, said a source privy to the investigation

This expansion will create 1,000 jobs for local clinicians by the end of 2025, who will deliver remote clinical services to Shearwater’s U.S. healthcare clients

Former Fisheries Minister D. Jayakumar told journalists at the party headquarters that the AIADMK would have no truck with the BJP not only in 2026 but also in other elections in the future

Storm-water drains proposed to be constructed for a length of 52 km in all 65 wards in the city at a cost of ₹32.50 crore under the Corporation’s General Funds for 2024-25