Rupee rises tracking gains in shares

Tags: Rupee, News
The rupee rises to 58.60/61 versus its close of 58.7750/7850 on Wednesday, tracking gains in shares after minutes from the Fed's latest policy meeting suggested a slow withdrawal of U.S. stimulus.

However, traders anticipate the Reserve Bank of India to step in to buy dollars, curbing gains in the rupee.

Separately, the RBI eased gold import rules on Wednesday by allowing more private agencies to ship the precious metal.

Reuters had reported earlier on Wednesday that the central bank and the finance ministry officials would recommend the new government to relax gold import rules.

The rupee is seen moving in a 58.40 to 58.90 range during the session.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The sudden rush of new papers could unsettle the secondary market

    While questions are being raised if the party has somewhat overextended on the Street, given the not-too-comforting macroeconomic numbers, retail inve

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Why manufacturing needs innovation

Prime minister Narendra Modi’s call of “come — make in ...

Kuruvilla Pandikattu SJ

Warren Buffett’s key to happiness

Despite being the second richest American, Warren Buffett still lives ...

Gautam Gupta

In fashion, why quality must exceed quantity

Every time there’s a fashion week in India, my friends, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture