Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: due date for vat payment :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: TDS :: form 3cd :: list of goods taxed at 4% :: articles on VAT and GST in India :: empanelment
 
 
Forex »
 Perils of an ad hoc forex policy
 Rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade
 Rupee strengthened by 7 paise against dollar
 Rupee up by 4 paise against dollar in early trade
 Rupee falls by 18 paise at 4-week low against dollar
 Rupee drops on weak shares; inflation eyed
 Rupee raises 6 paise against dollar in early trade
 Rupee among most traded in futures market
 Indian rupee gain 12 paise against US dollar
 Rupee marginally rise up by 1 paise against US dollar
 Rupee drops tracking euro, choppy shares

Rupee steady; market wary of RBI support
June, 24th 2008

The rupee shed early gains to close flat on Tuesday, holding just above 43.00 per dollar, with selling pressure from weaker local stocks and high oil prices balanced by expectations of the Reserve Bank of India support.

The partially convertible rupee ended at 42.9625/9700 per dollar, off an early high of 42.9250, and virtually unchanged from its previous close of 42.9650/9750.

"The rupee was rangebound today, the central bank fears continue to grip the market," a chief dealer with a cooperative bank said.

The central bank was suspected to have intervened to buy rupees when it touched a 13-month low of 43.21 per dollar in late May. Dealers say it seems determined to keep the currency stronger than 43.00 per dollar, although they said there was no sign of it intervening on Tuesday.

The benchmark 30-share index dipped below 14,000 points for the first time in 10 months on Tuesday as political uncertainty and expectations for an interest rate increase kept investors on edge.

So far in 2008 foreign funds have sold a net $6.1 billion of Indian shares, more than a third of what they pumped in last year, helping push the rupee down 8.3 per cent. The rupee rose more than 12 per cent in 2007.

The share index has fallen more than 30 per cent so far this year, making it one of the worst performing Asian indices.

Oil rose for a third straight session on Tuesday and was trading close to $138 a barrel.

One-month offshore non-deliverable forward contracts were quoting at 43.27/37, weaker than the onshore rate.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions