Rupee starts on a strong note

- Advertisement -

The rupee kick started the month on a strong note, rising early on Monday tracking regional units, local shares and with month-end hefty dollar demand out of the way, reports Economic Times.
Asian peers were up with regional stocks rising while gold and the yen dropped on Monday as investors cut safety trades after Washington reached a last-minute deal to escape default, though the top U.S. credit rating could still be downgraded.
At 9:37 a.m, the partially convertible rupee was at 44.045/44.0500 after rising 0.4 percent last week to 44.185/195 per dollar on Friday. The unit is expected to move in 43.95-44.07 band in the day. Indian shares rallied more than 1 percent in early trades on Monday, in line with Asian equities, after top U.S. lawmakers struck a deal to avoid a debt default. Lenders led the gainers.
Obama on Sunday announced a last-minute deal to raise the U.S. borrowing limit and urged lawmakers to “do the right thing” and approve the proposed agreement to avert a catastrophic default.
The euro was at $1.4391, down from $1.4449 when the rupee closed closed on Friday. The index of the dollar against six major currencies was at 73.806 points from Friday’s 73.709 points.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

H1 2022: Global Smartphone CIS Shipments Drop

0
Weak global economics amid war and pandemic fears keeping the market dull As per the latest Counterpoint Smartphone Camera Tracker report, Global smartphone CMOS image...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Exclusive

H1 2022: Global Smartphone CIS Shipments Drop

0
Weak global economics amid war and pandemic fears keeping the market dull As per the latest Counterpoint Smartphone Camera Tracker report, Global smartphone CMOS image...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Important Sectors

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Silicon Labs’ New Address: Hyderabad

0
It is the company's largest global centre for engineering and wireless connectivity innovation Leading global IoT wireless technology company Silicon Labs recently inaugurated its new...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...

Tech Mahindra Opens Telco Smart Analytics Lab in UK

0
Situated in Milton Keynes, the lab aims to develop data analytics solutions on Google Cloud India-based IT company, Tech Mahindra recently announced its dedicated Google...

GODI India Manufactures 3000F high power supercapacitor

0
Integration with battery packs would improve the battery life of EV, says GODI GODI India, the country's leading company to have homegrown technology to make...

Manufacturing

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...

Apple Making iPhone 14 In India!

0
As per the latest reports, Apple has started manufacturing iPhone 14 in India. Foxconn’s Sriperumbudur facility situated on the outskirts of Chennai is the...

Global UAV Mkt To Grow At 18.41% CAGR

0
The report 'Global UAV Market 2022-2026' lists the opportunities and challenges lying ahead for this sector A recent report released by Technavio expects the global...

Semiconductors and Display Manufacturing: Ready for Another Boost

0
Govt says that tech nodes of 45nm account for half of the total semiconductor market in India Central Cabinet, in a recent meeting, approved a...