The rupee today appreciated by 9 paise to 53.75 against the US dollar in early trade at the Interbank Foreign Exchange on selling of the American currency by exporters and banks. Besides, a lower opening in the equity market and strengthening of the euro against the dollar overseas also supported the rupee, forex dealers said. The BSE benchmark Sensex fell by 81.43 points, or 0.43 percent, to 18,600.88 in the early trade today.
Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Monday, October 22, 2012
Rupee gains,around 52-54 this Month
The rupee today appreciated by 9 paise to 53.75 against the US dollar in early trade at the Interbank Foreign Exchange on selling of the American currency by exporters and banks. Besides, a lower opening in the equity market and strengthening of the euro against the dollar overseas also supported the rupee, forex dealers said. The BSE benchmark Sensex fell by 81.43 points, or 0.43 percent, to 18,600.88 in the early trade today.
Wednesday, October 17, 2012
Overheard: What Ben and Subbarao schmoozed about
US Treasury Secretary Tim Geithner and the US Federal Reserve (Fed) Chairman Ben Bernanke visited India last week and their first port of call was the Reserve Bank of India (RBI).
Ben is arguably the most powerful person in the world as his organisation’s balance-sheet, at $ 2.9 trillion, is at around 18 percent of US GDP. The Fed is scheduled to commence $40 billion of MBS (mortgage-backed securities) purchases every month for an unspecified period, and this QE3 (Quantitative Easing) will further increase the size of the Fed’s balance-sheet, making it even more powerful as an organisation.
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