iPhone | iPad
Android
Huawei
Move comes 4 years after the brand was banned from India as a part a wider crackdown on some Chinese apps following border conflicts
KT APPDOWNLOAD
Indian rupee declines as early election trends spur dollar buying
Early trends showed Prime Minister Narendra Modi's alliance is leading, but the tally could fall short of what exit polls predicted
Photo: File
The Indian rupee declined on Tuesday, as early trends in election results spurred broad-based dollar demand amid a lack of clarity about the performance of Indian Prime Minister Narendra Modi-led alliance.
The rupee was at 22.713 against the UAE dirham as of 8.25am local time, down from 22.654 in the previous session. The rupee touched an intra-day low of 22.735 in early trading.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Early trends showed Prime Minister Narendra Modi's alliance is leading, but the tally could fall short of what exit polls predicted, a foreign exchange salesperson at a private bank said.
Indian equity indices, the BSE Sensex and Nifty 50, fell nearly 3 per cent amid nervousness about the election outcome while bond yields climbed.
It is "evident that markets are not too happy in the context of what the exit polls had indicated. You can see it across equities, bonds and FX markets," Kunal Kurani, associate vice president at Mecklai Financial, said.
The rupee's struggles were in contrast to moves in Asian peers, which advanced after weaker-than-expected US manufacturing data spurred a drop in Treasury yields.
ALSO READ:
More news from Business
Whether an activity is ancillary or not would depend on case-to-case basis and would primarily depend on the main activity
The deal will help BitOasis strengthen its position in the region and enhance its services.
Successful innovation efforts focus on supporting sustainability initiatives and uplifting marginalized communities
Lakshmi Narayanan honoured as Freeman of the City of London at Global Wealth Conference 2024
Russian economy weathers sanctions; the revenue accounts for a third of Russian budget proceedings
Higher supply from Nigeria and Iran offset the impact of voluntary supply cuts by other members and the wider Opec+ alliance
Investors await minutes of the Fed's last policy meeting for further cues on the central bank's interest rate cut path