An effort by the European Central Bank (ECB) and the region’s biggest public-sector borrowers to modernise bond issuance is getting mixed reviews from banks amid concern it may diminish their decades of control.
The rupee on Monday depreciated by 16 paise to 68.58 against the US dollar in early trade, mainly due to heavy selling in domestic equities and foreign fund outflows.
According to the Budget for 2019-20 presented in Parliament by Finance Minister Nirmala Sitharaman, Goods and Services Tax collections will contribute 19 paise in every rupee revenue.
Forex traders said rupee slipped marginally against the US dollar as market participants awaited cues from the Union Budget to be presented in the Parliament Friday.
The rupee appreciated by 6 paise to 68.83 against the US dollar in opening trade Thursday, tracking positive opening in domestic equities and easing crude oil prices.
The Indian rupee on Wednesday saw a marginal 6 paise gain at 68.89 against the US dollar in line with a steady trend in domestic equities in the run-up to the Union Budget due on Friday.
The rupee opened strong at 68.83 at the interbank forex market then gained further ground to touch 68.79 per dollar, displaying gains of 16 paise over its previous close.
The Indian rupee surrendered most of its early gains and settled for the day 9 paise higher at 68.94 against the US dollar as investor sentiments were revived by US-China trade truce.
The rupee opened on a strong note and rose 17 paise to 68.86 against the US dollar in early trade Monday tracking gains in domestic equities, even as crude oil prices firmed up.
The government Friday reduced interest rate on small savings schemes, including NSC and PPF, by 0.1 per cent for the July-September quarter.
The Indian rupee pared initial losses and closed 8 paise higher at 69.07 against the US currency on Thursday, supported by easing crude oil prices and weaker greenback.
The rupee depreciated 17 paise to 69.32 against the US dollar in opening trade Thursday as the strengthening of the American currency in the overseas market weighed on the local unit.
The rupee opened on a weak note and declined 12 paise to 69.48 against the US dollar in opening trade Wednesday, amid simmering geopolitical tensions in the Middle East and higher crude oil prices.
The rupee appreciated by 13 paise to 69.22 against the US dollar in opening trade Tuesday, driven by easing crude oil prices and weakening of the US dollar in the overseas market.
After opening on a weak note, the rupee recovered the lost ground and finally settled 23 paise higher at 69.35 to the US dollar amid weakening of the greenback against major currencies.