Welcome to X-MAS week, The Rupee maintains winning momentum, we expect USDINR likely to commence Thursday session between 75.45 – 75.55 levels as the dollar is softening as risk-off impulses continue to ebb.
India's retail inflation may rise in the near term but is likely to moderate, while slack in some of the key areas of growth warrant continued policy support, members of the monetary policy committee wrote in the December meeting minutes.
The Dec. 6-8 MPC meeting where all rates were held steady was conducted soon after the latest Omicron variant of coronavirus started spreading across the globe and most members said they would prefer to wait and see how the situation unfolds before deciding on the future course of monetary policy.
Amazon.com Inc is taking India's financial crime-fighting agency to court, seeking to quash an investigation into one of its 2019 deals, a court filing seen by Reuters shows.
Indian Enforcement Directorate (ED) has for months been probing Amazon's $200 million investment in India's Future Group for suspected violations of foreign investment laws.
The investment is at the centre of protracted legal battles, as Amazon has used the terms of that deal - and cited contract breaches by Future - to stall the $3.4 billion sales of the Indian company's retail assets to a rival.
USA Data on Wednesday showed that economic growth slowed sharply in the third quarter amid a flare-up in COVID-19 infections, but activity has since picked up, putting the economy on track to record its best performance this year since 1984.
Day Trend: - UPSIDE SELL
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