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Rupee rises 23 paise to 85.49 against US dollar in early trade

Mumbai, Jun 27 (PTI) The rupee rose 23 paise to 85.49 against the US dollar in early trade on Friday, aided by strong FII inflows and positive sentiments in the domestic equity markets. However, a rise in global crude oil prices and a slightly stronger greenback capped further gains in the local unit, forex traders said. Foreign institutional investors (FIIs) purchased equities worth Rs 12,594.38 crore on a net basis on Thursday, according to exchange data. At the interbank foreign exchange, the rupee opened at 85.50 against the dollar before inching up to 85.49, higher by 19 paise from its

Dollar lingers near 3-1/2-year low as traders wager on US rate cuts

SINGAPORE, June 27 (Reuters) – The dollar drifted on Friday, hovering near its lowest level in 3-1/2 years against the euro and sterling, as traders wagered on deeper U.S. rate cuts while awaiting trade deals ahead of a July deadline for President Donald Trump’s tariffs. With the geopolitical tremors of Israel-Iran conflict in the rear view after a ceasefire that appeared to be holding, market focus this week has been on U.S. monetary policy. The prospect of Trump announcing the next Federal Reserve chair, who is expected to be more dovish, earlier than usual to undermine the current chair Jerome

India’s economy to hold top spot for growth, but underlying weaknesses remain

BENGALURU, June 27 (Reuters) – The Indian economy will grow at a mostly steady pace this fiscal year and next after marking a four-year low in 2024-25, according to economists polled by Reuters, who have mostly either kept their forecasts unchanged or made marginal upgrades. That stable outlook comes despite the Reserve Bank of India cutting interest rates by a full percentage point since early this year, including an unexpected 50 basis point reduction on June 6, to boost growth in the face of rising global uncertainties. But the world’s fastest-growing major economy still earns that title mostly because government

Who is Zohran Mamdani? State lawmaker seeks to become NYC’s first Muslim and Indian American mayor

When he announced his run for mayor back in October, Zohran Mamdani was a state lawmaker unknown to most New York City residents. On Tuesday evening, the 33-year-old marked his stunning political ascension when he declared victory in the Democratic primary from a Queens rooftop bar after former New York Gov. Andrew Cuomo conceded. While the race’s ultimate outcome has yet to be confirmed by a ranked choice count scheduled for July 1, here’s a look at the one-time rapper seeking to become the city’s first Muslim and Indian American mayor, and its youngest mayor in generations. Mamdani’s mother is

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