RBI's steps will prevent rupee from slipping, even if OMCs meet entire $ demand from market
Foreign currency assets, a key component of reserves fell by $894 million to $253.61 billion
Reasons being a weaker euro after a surprise rate cut by ECB and state-run oil refiners have started sourcing dollars
RBI may intervene later to arrest weakness
The partially convertible rupee closed at 62.41/42 a dollar compared to 62.39/40 on Wednesday
Flexibility in repayment makes such loans good for home loan prepayment or credit card dues
Economic affairs secretary Arvind Mayaram said that 30-40% of state-run oil companies' dollar demand has returned to markets
Expects rupee to stabilise in 1-2 days as dollar demand gets absorbed by the markets
State-run banks likely sold dollars on behalf of the central bank
Will struggle to gain ground on uncertainties surrounding elections, Fed and external deficit
Ends at Rs 62.40 compared with previous close of Rs 61.63 per dollar
The 7.16% govt security maturing in 2023 dropped to Rs 89.44 from Rs 89.93 previously, while its yield climbed to 8.82% from 8.74%
Some deals are stuck because developers are demanding high valuation, even though they are facing a liquidity crisis and banks aren't lending to them
Lower opening in domestic market also affects rupee
The partially convertible rupee closed at 61.62/63 a dollar compared to 61.73/74 on Friday
If your e-account doesn't match the insurer's repository, the policy would have to be held in physical form
US Fed's decision to defer tapering has given RBI enough elbow room to stabilise rupee and reverse monetary tightening measures in a gradual fashion
Bond yields may continue to face upward pressure though the uptick will be capped by RBI intervention
Importers are covering up their requirements after Diwali holiday yesterday
Dollar rising globally on back of upbeat US data takes rupee down