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Wednesday, August 23, 2017 10:53 PM

Currency

Advances To Fresh 17-Mnth Highs Against Dollar

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Gold Silver Reports — The Indian rupee commenced almost flat against the dollar on Wednesday, 29 March 2017 but managed to advance from thereon to hit a fresh 17-month high in early trades on increased liquidation of the American currency by exporters and banks. A higher stock opening and continued foreign inflows supported the rupee. However, the dollars recovery against some currencies overseas restricted the rupee upmove.

Recovers In Early Trades March 26

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Gold Silver Reports — The Indian rupee commenced almost flat against the dollar in early trades on Friday, 24 March 2017 and recovered further thereon. Fresh selling of the American currency by exporters and banks amid higher opening in the domestic equity market bolstered the domestic currency. However, a strong dollar in global markets capped the rupee gains.

EDGES LOWER IN EARLY TRADES

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Money Market Guru — The Indian rupee slipped lower in early trades on Tuesday, 21 March 2017 due to appreciation of the American currency overseas. Increased demand for the US currency from importers also weighed down the currency. However, a higher opening in the domestic equity market capped the losses.

INR Holds Around One Year High

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Money Market Guru — INR Holds Around One Year High — Indian Rupee managed to remain near one year high today. The local currency appreciated sharply last week as the equity markets jumped. Key benchmark indices closed with small gains on the final trading session of the last week as reports suggesting that the Goods & Services Tax (GST) Council cleared all legislations required for launching GST regime from July supported gains on the bourses.

If Banks Refuse to Exchange Soiled Notes, They Can be Fined Rs10000

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If Banks Refuse to Exchange Soiled Notes,

Money Market Guru ⭐⭐⭐⭐⭐ — In a world of fake news and viral WhatsApp messages, you may end up believing the rumour that currency notes that have something scribbled across them are no longer legal tender. Your heart may sink if an ATM spits out yet another note with “Sonam Gupta bewafa hai” (Sonam Gupta is unfaithful) written on it.

CBDT Issues Specific Guidelines to Ascertain if a Cash Deposit is Genuine

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Money Market Guru — CBDT Issues Specific Guidelines to Ascertain if a Cash Deposit is Genuine — Any bank account suspected to have been “misused” for money laundering or shell company operations won’t be exempted from probe under ‘Operation Clean Money’ despite having low deposits, the Central Board of Direct Taxes (CBDT) said on Tuesday.

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