The Indian rupee opened lower at 67.76 per dollar
The Indian rupee opened lower at 67.76 per dollar
versus previous close of 67.43. Indian Rupee opened down 33 paise after
the hawkish US Federal Reserve hiked interest rate.
US dollar index regained lost ground after Janet Yellen news
conference. The greenback ascended primarily against Yen and Euro, with
values now hovering around 117 and 1.05 respectively. Nonetheless,
Sterling is holding ground.
In the emerging market space, the pain is expected to intensify, with
Yuan, Mexican Peso and Indonesian Rupiah being vulnerable.
The Reserve Bank of India’s (RBI) reference rate as on December 14,
2016, for the dollar stood at 67.56 while for the Euro it was 71.91. The
RBI’s reference rate for the Yen stood at 58.66; reference rate for the
Great Britain Pound (GBP) stood at 85.54.
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• DLF to raise Rs11,250 crore from promoters and a further Rs3,500 crore, in one or more tranches, by way of a public issue, a private placement or a QIP. The entire funds will be primarily used to reduce DLF’s debt.
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