Rupee trading below midterm support levels (73.40 - 73.45) as greenback fell to its lowest in more than two years against the euro as currency traders looked past a new delay in U.S. stimulus cheques and maintained bets additional financial aid was still likely.
India has found six people who returned from Britain in recent weeks infected with a more infectious strain of the coronavirus that has prompted a wave of panic and border closures around the world.
India's financial sector should brace for challenging times ahead with an increased risk of deterioration in asset quality and lower demand for loans, the Reserve Bank of India (RBI) said in a report on Tuesday.
India on Tuesday sought public comment on a proposal to make airbags mandatory for the front passenger in all cars from next year, in a move that could raise costs for automakers slowly seeing a revival in demand.
INTRADAY RANGE - 73.21 ( 73.32 - 73.45 ) 73.55
U.S. Senate Majority Leader Mitch McConnell on Tuesday blocked immediate consideration of a measure to increase COVID-19 relief payments to $2,000, adding another twist to fractious negotiations over fiscal stimulus.
The dollar has fallen steadily since President Donald Trump signed a coronavirus aid and spending bill on Sunday, because more stimulus for the world's largest economy reduces demand for the perceived safety of holding the greenback.
While the size of relief payments is still uncertain, many analysts say the dollar is likely to resume falling next year because President-elect Joe Biden is expected to push for even more economic support measures.
Asia Pacific stocks were mostly up on Wednesday morning, even as investors look to cash in on global shares’ recent rally and the U.S. Senate delays a vote on increasing the amounts on the stimulus checks to be distributed to Americans.
Comments