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Rupee falls 5 paise to 88.75 against US dollar in early trade

Mumbai, Nov 14 (PTI) The rupee depreciated by 5 paise to 88.75 against the US dollar in early trade on Friday, tracking a negative trend in domestic equities and foreign fund outflows. Forex traders said investors are taking a cautious approach due to the lack of an announcement on the India-US trade deal. At the interbank foreign exchange market, the rupee opened at 88.70 against the US dollar before dropping to 88.75, down 5 paise from its previous close. On Thursday, the rupee settled 8 paise lower at 88.70 against the US dollar. “Traders are perplexed by the non-announcement of

Ajit Pawar too ‘power-hungry’ to quit government: Maharashtra Congress chief Sapkal

Mumbai, Nov 13 (PTI) Maharashtra Congress president Harshwardhan Sapkal on Thursday hit out at Deputy Chief Minister Ajit Pawar, facing Opposition heat over a now scrapped land deal involving his son’s firm, and said he is “too power-hungry” to quit the ruling alliance. Sapkal claimed internal rifts within the state’s “triple-engine” Mahayuti government, which consists of the BJP, Shiv Sena and Ajit Pawar-led NCP, have intensified. “The ruling partners are divided but united only for power. Ajit Pawar cannot stay away from office, so stepping down is out of the question,” the MPCC president told reporters after a two-day meeting

Gold surges Rs 3,000 to Rs 1.30 lakh/10g amid firm global cues, weak dollar

New Delhi, Nov 13 (PTI) Gold prices surged Rs 3,000 to Rs 1,30,900 per 10 grams in the national capital on Thursday tracking firm global cues and weak dollar, according to the All India Sarafa Association. Traders said the end of US government’s shutdown also supported the appeal of the safe-haven asset. The precious metal of 99.5 per cent purity extended its gains for the third straight day, jumping Rs 3,000 to Rs 1,30,300 per 10 grams (inclusive of all taxes) from Wednesday’s closing of Rs 1,27,300 per 10 grams. In the local bullion market, gold of 99.9 per cent

Rupee falls 6 paise to close at 88.68 against US dollar

Mumbai, Nov 13 (PTI) The rupee consolidated in a narrow range and settled for the day lower by 6 paise at 88.68 (provisional) against the US dollar on Thursday, as foreign fund outflows and continuous dollar demand from local importers, including oil companies, exerted pressure on the local currency. Forex traders said rupee is trading in a tight range, as overnight decline in crude oil prices and renewed optimism over US-India trade talks providing a steady anchor and restricted the downfall. At the interbank foreign exchange, the rupee opened at 88.66 against the US dollar and touched an intra-day high

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