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Rupee rises 9 paise to 71.05 vs $ in early trade
Posted on 19th August 2019
The rupee appreciated by 9 paise to 71.05 against the US dollar in early trade on Monday, tracking gains in domestic equities and indication of a revival in trade talks between the US and China.

Forex traders said positive opening in domestic equity market and Donald Trump’s chief economic advisor comments that the U.S. and China are seeking to revive trade talks supported the rupee.

If teleconferences between both sides’ deputies pan out in the next 10 days “and we can have a substantive renewal of negotiations,” Larry Kudlow said on Fox News Sunday. He further added that “then we are planning to have China come to the USA and meet with our principals to continue the negotiations.”

At the interbank foreign exchange, the rupee opened at 71.12, then gained momentum and touched a high of 71.05, registering a rise of 9 paise over its previous close.

The domestic unit pared some gains and was trading at 71.07 against the dollar at 0959 hrs.

On Friday, the rupee had settled at 71.14 against the US dollar.

Meanwhile, foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out ₹ 1,339.27 crore on Friday, according to provisional exchange data.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.07 per cent to 98.20.

Brent crude futures, the global oil benchmark, rose 1.09 per cent to trade at USD 59.28 per barrel.

Domestic bourses opened on a bullish note on Monday with benchmark indices Sensex trading 211.91 points higher at 37,562.24 and Nifty up 40.05 points at 11,087.85.

The 10-year government bond yield was at 6.59 per cent in morning trade.


Other Latest News
UK launches points-based visa system to attract best talent of the world
Posted on 19th January 2020

Home Secretary Priti Patel on Wednesday announced the launch of the UK's new points-based visa system, aimed at attracting the brightest and the best from the world, including from India, and cutting down numbers of cheap, low-skilled workers coming to the country.

The new system will come into force from January 1 2021 at the end of the transition period after the UK's exit from the European Union (EU) last month, which will formally end free movement of people within the economic bloc for the UK as a non-member.


26/11 would have been dubbed as 'Hindu terror' attack: Maria
Posted on 19th February 2020

Former Mumbai police commissioner Rakesh Maria has claimed that had Pakistani terrorist Mohammed Ajmal Kasab not been caught alive, the 26/11 Mumbai terror attack would have been dubbed as the handiwork of Hindu terrorists.

Kasab's body would have been found with an I-card bearing a fictitious Hindu name, Maria writes in his memoir 'Let Me Say It Now' released recently.


Ayodhya Ram Temple: First meeting of Ram Mandir Trust at Parasaran’s Delhi residence today
Posted on 19th February 2020

The first meeting of the Ram Mandir Trust to oversee construction of a Ram temple at Ayodhya will be held here on Wednesday at the Delhi residence of K Parasaran, the head of the Trust. The Trust has been constituted by the Narendra Modi government.

The trust meeting is likely to finalise the date to start construction of the Ram Temple. Modi had announced the formation of the 15-member trust in Parliament on February 5. The Shri Ram Janmabhoomi Teertha Kshetra Trust has seven members, five nominated members and three trustees.


Hyderabad: UIDAI sends notice to 127 people to prove 'Indian citizenship'
Posted on 19th February 2020

The Unique Identification Authority of India (UIDAI), that issues Aadhar cards, has asked at least 127 people in Hyderabad to prove their 'Indian citizenship'. In a notice, the authority has warned that their Aadhar cards will be cancelled if they don't verifiy their enrolment documents in person.

On Tuesday, a rickshaw driver named Sattar Khan was asked to appear before a UIDAI official on February 20 “with all necessary documents in original to prove all his claims of Indian citizenship”. The letter went viral on social media.


Kotak Mahindra Bank promoters get RBI nod to cap voting rights, pare stake
Posted on 19th February 2020

Private sector lender Kotak Mahindra Bank on Wednesday informed stock exchanges that the Reserve Bank of India (RBI) has given its final approval to the bank’s proposal on stake reduction in the bank and capping the promoters’ voting rights.

Further to our intimation dated 30th January 2020, please note that the Reserve Bank of India has granted its final approval vide its letter dated February 18, 2020 in the matter relating to dilution of promoters' shareholding in the bank, the bank said.


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