The Indian rupee fell by another 11 paise to close at 69.91 to the US currency, its third straight-session loss, in line with intense sell-offs in domestic equities amid concerns over Indo-US trade tariff disagreements.
Fitch Monday lowered India's growth forecast to 6.6 per cent for the current fiscal from 6.8 per cent projected earlier, as manufacturing and agriculture sectors showed signs of slowing down over the past year.
Financial stability has emerged as a key consideration for monetary policy formulation in the post-2008 financial crisis world beyond the imperatives of inflation and growth, RB Governor Shaktikanta Das said.
Gold prices fell by Rs 100 to Rs 33,620 per 10 gram in the national capital due to subdued demand from local jewellers and a weak trend overseas, according to the All India Sarafa Association.
Gold prices on Monday edged away from a 14-month peak hit in the previous session, with the dollar gaining after encouraging US retail sales data tempered fears about a sharp downturn in the world’s largest economy.
Oil prices rose on Monday after US Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week.
The progress of monsoon, clouds of trade war looming over India after retaliatory tariff on 28 US goods, policy decisions by the US Federal Reserve, Bank of Japan and Bank of England, are some of the factors which will guide the markets next week.
Tightening the screw on tax evaders, the revised guidelines issued by the Income Tax (I-T) Department have made serious offences under black money and benami laws "generally" non-compoundable.
Further simplification of GST, implementation of direct tax code, initiating job-oriented growth measures and maintaining fiscal prudence were some of the key suggestions made by economists for the ensuing Budget to FM Nirmala Sitharaman.