Anjali Kumari
Anjali Kumari
The local currency had settled at Rs 85.20 per dollar on Wednesday
REER represents the inflation-adjusted, trade-weighted average value of a currency against its trading partners
The rupee had breached the 84 per dollar mark on October 11 of the current year
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The local currency had settled at 85.02 per dollar after choppy trading on Friday, touching 85.11 per dollar before regaining ground against the greenback on the back of FTSE rebalancing inflows
Finance Minister Nirmala Sitharaman had in September launched NPS Vatsalya, a scheme for minors to secure their future
Market participants said that the price difference is largely driven by heavy supply, timing mismatches in fund flows, and rising global interest rates
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The reserves stood at $655 billion in the week ended December 6, having declined by $3.2 billion during that week
According to a dealer at a state-owned bank, some of the AAA-rated issuers who tapped the market today were expecting to raise funds at the levels they normally raise
The rupee had settled at Rs 85.07 per dollar on Thursday
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India's foreign exchange reserves have declined by $50 billion this quarter as of December 13, according to the latest RBI data
IIFCL Rs 1,290 crore in two tranches with varying maturities
RBI sold dollars via state-run banks, which avoided further depreciation, said dealers
Market participants said that the company did not raise the entire amount as the investors were demanding a higher coupon
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In the first fortnight of December alone, issuances exceeded Rs 81,000 crore and are expected to surpass November's total of Rs 92,260 crore
The local currency settled at Rs 84.90 per dollar as the Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar sales
IIFCL is planning to mop up Rs 3,000 crore in two tranches with varying maturities