INSUBCONTINENT EXCLUSIVE:
The Indian rupee has declined about 11 per cent since the start of the year.
The rupee edged higher
by 10 paise to 72.07 against the dollar in early trade on Friday on increased selling of the greenback by exporters and banks, reported news
agency Press Trust of India (PTI)
Increased foreign fund inflows and a higher opening of domestic equities also supported the rupee, traders were quoted as saying in the PTI
On Thursday, the rupee, which has been Asia's worst-performing currency so far this year, settled at a two-month high of 71.97 against the
Foreign funds bought shares worth a net of Rs 2,043.06 crore on Thursday, as per provisional data
At 11:43 am, BSE benchmark index Sensex traded at 35,391.77, up 131.23 points or 0.37 per cent and the NSE index Nifty50 was at 10,655.95,
with a gain of 39.25 points or 0.37 per cent
Brent crude oil futures were up 48 cents, or 0.7 per cent, at $67.10 per barrel
US West Texas Intermediate (WTI) crude oil futures were at $56.84 per barrel at 0353 GMT or 9:23 am IST, up 38 cents, or 0.7 percent, from
their last settlement.The dollar index, which measures the greenback against a basket of six major currencies, was at 97, not far from a
16-month high of 97.69 hit at the start of the week, reported news agency Reuters.Data released on Thursday showed the Reserve Bank of India
(RBI) sold $7.09 billion in the forward dollar-rupee market in September, the highest monthly sales this year, compared with $4.95 billion
This is the second straight month for the RBI to intervene more in the derivatives market than spot, reported Reuters.The central bank aims
to stem a sharp fall in the rupee and avoid tightening cash conditions in the banking system.Trade deficit in October widened to $17.13
billion due to a higher oil import bill, the country's trade ministry said in a statement on Thursday.Retail inflation in October fell to a
it the worst performer in Asia, stung by high oil prices and large foreign dollar outflows
August, the worst since August 2015
In October, the rupee weakened by about 2 per cent, while so far in November the pace of fall further slowed to 0.4 per cent, news agency
Reuters reported citing Refinitiv data.(With inputs from agencies)
