The retailer, which is also a popular choice among UAE residents, announced the closure on its official Instagram and Facebook page
business2 days ago
The Indian rupee depreciated 12 paise to 81.64 against the US dollar (22.24 versus the UAE dirham) in early trade on Tuesday, weighed down by significant foreign fund outflows and a muted trend in the Indian equities.
At the Indian interbank foreign exchange, the South Asian currency opened weak at 81.61 against the dollar, then lost ground and fell to 81.64, registering a decline of 12 paise over its last close.
In the previous session on Monday, the rupee settled at 81.52 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 102.23. Brent crude futures, the global oil benchmark, advanced 0.02 per cent to $84.92 per barrel.
Forex traders said the rupee is likely to witness range-bound trading as investors brace for interest rate decisions from the Federal Reserve, and the Union Budget for 2023-24, both scheduled to be announced on Wednesday.
Meanwhile, the Budget session of Parliament kicks off on Tuesday. The session will commence with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament.
The Economic Survey will be also tabled on Tuesday after the President's address.
In the Indian equity market, the 30-share BSE Sensex was trading 190.52 points or 0.32 per cent lower at 59,309.89. The broader NSE Nifty declined 60.25 points or 0.34 per cent to 17,588.70.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth ₹67.9 billion, according to exchange data.
(With inputs from PTI)
ALSO READ:
The retailer, which is also a popular choice among UAE residents, announced the closure on its official Instagram and Facebook page
business2 days ago
The two-year investment, its biggest ever in the country, will also be used to upskill Indians in AI, says a Microsoft spokesperson
business2 days ago
Retail sector shows "minimal" growth in golden quarter, trade body says sales volumes likely to fall in 2025
business2 days ago
Cheap Chinese steel exports have upended global market
business2 days ago
Government’s efforts to improve transparency in real estate transactions have bolstered investor confidence
business2 days ago
Sultan bin Sulayem shares the challenges behind constructing the Palm Jumeirah, the emirate's first artificial island, and how it almost cost him his life
business2 days ago
This year’s conference welcomed renowned participants from leading institutions worldwide
business2 days ago
Lawsuit alleges Biden influenced national security review for political reasons
business3 days ago