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Rupee falls 9 paise to close at 94.54 against US dollar

Mumbai, Jun 29 (PTI) The rupee pared initial gains and settled lower by 9 paise at 94.54 (provisional) against the US dollar on Monday, as renewed geopolitical tensions hit investors’ risk appetite. Forex traders said the rupee opened on a positive note with crude oil prices remaining supportive and foreign inflows improving, but a renewed flare-up in geopolitical tensions after fresh military exchanges between the US and Iran dented investor sentiment. At the interbank foreign exchange market, the rupee opened at 94.36, then gained momentum and touched an intraday high of 94.25 and a low of 94.56 against the American

Stock markets decline as renewed geopolitical tensions unnerve investors; Sensex drops 370 pts

Mumbai, Jun 29 (PTI) Benchmark equity indices Sensex and Nifty ended lower on Monday as renewed hostilities between the US and Iran and rising oil prices unnerved investors. The 30-share BSE Sensex declined 372.10 points, or 0.48 per cent, to settle at 76,728.37. During the day, it tanked 478.72 points, or 0.62 per cent, to 76,621.75. The 50-share NSE Nifty dropped 109.75 points, or 0.46 per cent, to end at 23,946.25. From the Sensex pack, Kotak Mahindra Bank declined 3.24 per cent after the firm said its MD and CEO, Ashok Vaswani, will quit upon completion of his three-year tenure

India’s IIFCL plans $1 billion loan; in talks for $400 million ADB funding

MUMBAI, June 29 (Reuters) – IIFCL (India Infrastructure Finance Company) is planning to borrow $1 billion from overseas investors, which could be its ​biggest foreign-currency loan, while also exploring a separate $400 million ‌funding from the Asian Development Bank, an executive said. The Indian company is the latest to tap into the foreign lending market after the ​Reserve Bank of India introduced a series of measures to ​boost dollar inflows and support the rupee. The measures ⁠include allowing state-run firms and banks to raise foreign currency ​funds to hedge their forex exposure at a subsidised rate. The $1 billion ​loan

Congress chief Kharge takes oath as Rajya Sabha member

New Delhi, Jun 29 (PTI) Congress president Mallikarjun Kharge on Monday took oath as a member of the Rajya Sabha after his re-election. The oath to Kharge was administered by Rajya Sabha chairman and Vice President C P Radhakrishnan in his chamber. Congress Parliamentary Party chairperson Sonia Gandhi and Wayanad MP Priyanka Gandhi Vadra were present during the oath-taking. Kharge was re-elected to the Rajya Sabha and represents the state of Karnataka in the upper house. He took the oath in Hindi. Radhakrishnan congratulated Kharge after his oath-taking and said the house would surely benefit from his long experience. Health

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