MARKET
HEADLINES
- Rupee gains 8 paise against dollar on foreign capital inflowsThe Snapping its four-day falling streak, the rupee rose by eight paise to 61.37 against the US dollar in early trade today on sustained foreign capital inflows amidst a higher opening in the domestic equity market. Increased selling of the American currency by banks and exporters amid sustained foreign capital inflows following a slew of reforms announced by the government supported the rupee but the dollar's firmness against other currencies overseas capped the gains, dealers said. Besides, a strong rally in domestic equity market in opening trade helped the rupee, they added. The rupee depreciated by 10 paise to close at two-week low of 61.45 against the Greenback in yesterday's trade after the US Federal Reserve kept in place its plans to maintain record low interest rate for some more time. The rupee depreciated by 10 paise to close at two-week low of 61.45 against the Greenback in yesterday's trade after the US Federal Reserve kept in place its plans to maintain record low interest rate for some more time.
Meanwhile,
the benchmark BSE Sensex rose 147.26 points, or 0.53 per cent, to hit
new lifetime high of 27,493.59 in opening trade.
- China's yuan rises on corporate dollar sales, set to rise 0.5 per cent in October
China's
yuan edged higher against the dollar on Friday, buoyed by strong
corporate dollar sales, traders said, and it is set to show a gain of
0.5 per cent in October, the fifth straight month of mild
appreciation.
"Many
companies are selling dollars this morning, continuing a recent
trend," said a trader at an Asian bank in Shanghai, adding that
the corporate dollar sales might indicate the market is betting on
strong exports again in October. Spot yuan stood at 6.1103 per dollar
by midday, 0.09 per cent firmer than Thursday's close. The People's
Bank of China (PBOC) fixed its midpoint at 6.1461, practically
unchanged from Thursday's fix. October trade data is due on November
8. A run of higher export figures has helped the Chinese currency
rise more than 2 per cent since May.
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