A rebound in prices of oil, and concerns about an expensive bailout for farmers before general elections to be held by May has caused the rupee to miss out on a revival
For long, banks' managements resisted officers' attempts to unionise
On Wednesday, the domestic currency slipped 25 paise to close at 70.46 as continued rise in global crude oil prices weighed on sentiments.
The rupee's path this year will largely be determined by the results of national elections in May, oil price moves and the Reserve Bank of India's policy
On Tuesday, The domestic unit plunged by 53 paise to close at 70.21 against amid renewed concerns over widening of current account deficit (CAD) following constant rise in global crude oil prices.
Indonesia is a net commodities exporter due to its coal exports, and higher commodity prices will help its fiscal balance and hurt India's
On Monday, the domestic currency pared early gains but managed to end four paise higher at 69.68 following dovish stance by the Federal Reserve and rising hopes of a thaw in ongoing US-China trade tif
On Tuesday, the domestic unit gained 34 paise to settle at 69.43 on increased selling of the greenback by exporters and smart gains in domestic equities.
On Monday, the domestic unit signed off the last trading session of 2018 with 18 paise gains at 69.77 but clocked a 9.23 per cent fall during the year.
Today, USD/INR pair is expected to quote in the range of 70.05 and 70.80, says Gaurang Somaiya, Research Analyst(Currency) at Motilal Oswal Financial Services.
The domestic unit trimmed its early sharp gains to settle 8 paise higher at 70.06 on Wednesday, mainly due to dollar buying by importers in the last hour of trade.
The domestic unit Monday recovered by 4 paise to close at 70.14, aided by weak crude oil prices and the dollar's losses in global markets due to political uncertainty in the US.
With many hurdles and challenges, 2018 has been a disappointing and highly volatile year
Despite losses on Friday, the rupee gained 172 paise or 2.4 per cent on weekly basis amid a slide in crude oil prices which touched $53.26 per barrel.
The country's reserve position with the IMF also decline by $12.5 million to $2.617 billion
The currency strengthened further by 69 paise to close at 69.70 on Thursday as the Fed raised the interest rate but lowered its projection for future hikes.
The domestic unit pared early gains but managed to end 5 paise higher at 70.39 Wednesday.
Forex traders said investor sentiment was supported by a sharp fall in bond yields and the continued infusion of liquidity by the RBI by way of open market operation
The domestic unit on Tuesday rallied by a whopping 112 paise, its best single-day gain in over five years, to settle at 70.44 against the US dollar.
The Tuesday's 112 paise ascent marked the best day for the rupee since September 19, 2013, when it had surged by 161 paise against the US dollar