The rupee is likely to remain stable in the near term, with near-term forward rates also having fallen
Rupee opened at 66.44 a dollar level but was already under some pressure as US dollar strengthened against major global currencies
Each will have one vote and Patel will hold an additional tie-breaker, guided by a newly established inflation target
Increased selling of the dollar by exporters and banks and a higher opening in the domestic equity market supported the rupee
Currency investors across the globe are cautiously awaiting the FOMC outcome
A low rate makes the country less attractive for a foreign investor and the inflow thins, which puts further pressure on the local currency to depreciate
Economic affairs secretary Shaktikanta Das denied any such move to boost dwindling exports
A television channel reported that the commerce ministry will propose a devaluation in the unit to promote dwindling exports
Indian currency fell abruptly after devaluation reports, but trimmed losses after denial from the government
RBI has made it clear in the past that its primary focus is on bringing down currency volatility and it is not for any particular value of the rupee
Meanwhile, BSE Sensex rose by 60.51 points at 28,432.74 in early trade today
However, while the instrument passes on currency risk to the investor, it may still be an expensive option for some issuers
Re-emergence of Fed rate hike alongside aggressive hedging strategy adopted by importers has predominantly kept home currency under intense pressure
Fifth largest IPO in the domestic market
Dealers attributed rupee's fall to increased demand for US currency and a lower opening in domestic equity market
He likes to keep a low-profile, but behind the scenes Gandhi has been the driving force for many banking and financial services industry reforms
Exchange rates for the pound and the yen against the rupee were quoted at 88.6088 and 65.33 per 100 yens, respectively
SBI and other large banks' minimum lending rate remains steady at 9.30 per cent since September last year
Patel, who served as the deputy governor since January 2013, took over from Raghuram Rajan, effective September 4