INSUBCONTINENT EXCLUSIVE:
The rupee pared most of its early morning losses and was trading marginally down by 5 paise at 69.31 against the American currency, after
the Reserve Bank of India cut its repo rate by 0.25 per cent Thursday. The rupee had opened on a weak note at 69.41 at the interbank forex
market and then fell further to 69.45 vs the dollar
Following the RBI's Monetary Policy Committee (MPC) decision, the local currency recovered most of the lost ground
The domestic currency was trading at 69.31 at 1248 hrs, down 5 paise over its last close
The rupee had settled at 69.26 against the dollar on Tuesday
Indian bonds and Forex markets were closed on Wednesday on account of Id-Ul-Fitr.Forex traders said, foreign fund outflows and rising crude
oil prices also kept pressure on the rupee
Moreover, heavy selling in domestic equities also weighed on the local unit.Brent crude futures, the global oil benchmark, rose 0.28 per
cent to dollar 60.80 per barrel
Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 416.08 crore Tuesday, as per provisional
Meanwhile, the 30-share index was trading 333.32 points, or 0.83 per cent, lower at 39,750.22, and the broader Nifty fell 114.35 points, or
0.95 per cent, to 11,907.30.
