No early end to 'temporary' steps to tighten liquidity
Indian Overseas Bank MD says moderation in headline inflation had raised hopes of a rate cut to stimulate growth
Most of CFOs, CEOs say they were expecting some relief on interest rate front
While the outlook for global non-oil commodity prices remains benign, international crude oil prices are firming up
This was the first time after July 15 that rupee crossed the level
The central bank has cut the GDP growth forecast to 5.5% from 5.7% for FY14.
RBI said the economy's resilience to shocks eroded as most external vulnerability indicators have deteriorated
The rupee had gained 72 paise, or 1.2%, in the past three sessions
Rupee was at Rs 59.40 versus previous clsoe of Rs 59.04 against the dollar
The rupee was at 59.17/18 as against Friday's close of 59.04/05
Hawkish tone likely to guard rupee from further slide
It is important to wait for some tangible signals from RBI on stability coming back in currency markets
RBI will announced the monetary policy on Tuesday
Of late, the RBI has taken a series of measures to tighten liquidity and check import of gold with a view to arrest rupee fall
Although the rupee strengthened above the 58 mark for the second day, it was unable to sustain those gains
The central bank has tightened money supply and pushed up short-term interest rates to try to generate demand for the rupee
The rupee's rise against the dollar since mid-July had broadly been in line with a host of other currencies and the weakness in the broader dollar index
The currency ended little changed from Wednesday at 59.11, after earlier rising to 58.77
Banks and exporters preferred to reduce their dollar position in view of weakness of dollar in the international market
The currency on Wednesday bounced back sharply by 63 paise to close at 59.13 against dollar