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Rupee rallies most in nearly 2 years on heavy RBI intervention

Rupee rallies most in nearly 2 years on heavy RBI intervention

MUMBAI, Feb 11 (Reuters) – The Indian rupee rallied on Tuesday on the back of strong intervention by the RBI (Reserve Bank of India), which traders said could deter heavy speculative positioning against the currency in the near term. The rupee closed 0.7% higher at 86.8275 against the U.S. dollar, logging its biggest one-day gain since March 2023. The RBI likely sold between $4 billion and $7 billion to shore up the currency on Monday to help it hold above the 88 handle and the intervention continued on Tuesday, traders said. The currency hit its all-time low of 87.95 in

Supreme Court asks Election Commission response on pleas for EVM verification

Supreme Court asks Election Commission response on pleas for EVM verification

New Delhi, Feb 11 (PTI) The Supreme Court on Tuesday sought the Election Commission of India’s response on the pleas seeking verification of the burnt memory and symbol loading units in EVMs in compliance of its judgement. A special bench comprising Chief Justice Sanjiv Khanna and Justice Dipankar Datta asked the poll panel to refrain from erasing or reloading data during the verification process. The pleas sought a direction to the poll panel to check and verify burnt memory/micro-controllers and the symbol loading unit (SLU) of electronic voting machines (EVM). The bench asked the poll panel to file its response

Gold snaps 7-day rally, declines Rs 200 to Rs 88,300/10g in Delhi

Gold snaps 7-day rally, declines Rs 200 to Rs 88,300/10g in Delhi

New Delhi, Feb 11 (PTI) Snapping the seven-day winning run, gold prices declined by Rs 200 to Rs 88,300 per 10 grams in the national capital following selling by stockists amid a bearish trend in global markets. Gold of 99.5 per cent purity also dropped Rs 200 to Rs 87,900 per 10 grams from the previous close of Rs 88,100 per 10 grams. Additionally, silver prices decreased Rs 900 to Rs 96,600 per kg from the previous trading close of Rs 97,500 per kg on Monday. Traders said the yellow metal prices depreciated ahead of Fed Chair Jerome Powell’s testimony

US trade war fears wipe out $180 billion from Indian stocks in 2 days

US trade war fears wipe out 0 billion from Indian stocks in 2 days

Feb 11 (Reuters) – Indian stocks have lost about $180 billion in market value in the two days since U.S. President Donald Trump said he would slap reciprocal tariffs on several countries, with many analysts saying the world’s fifth-largest economy could be worst hit. The blue-chip NSE Nifty 50 and BSE Sensex indexes sank 1.32% on Tuesday and have tumbled a shade over 2% in the past two sessions. The broader, more domestically focused mid-cap and small-cap indexes have slid a steeper 5%. About 87%, or 2,532, of the 2,918 stocks listed on the National Stock Exchange declined on the

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