Omantribune
Oman Tribune
Omantribune
Omantribune Search News
Web Oman
    Google Search Button
      Tribune
- Oman
- Soccer World Cup
- Other Top Stories
- Middle East
- Business
- Sports
- India
- Pakistan
- Asia
- Europe
- Americas
- Columnists
- Editorial
- Oman Mirror
- Special Features
- Cinema
- PDF Pages
- Weather
- Travel
- Currency Rate
- Hospitals
- Pharmacies
- Services
- Flight Timings
- Museum Timings
Omantribune Home Omantribune About Us Omantribune Advertising Information Omantribune Archives Omantribune Subscribe-Form Omantribune Jobs Omantribune Contact Us
Saturday, October 25, 2014  

Indian rupee falls against dollar
MUMBAI The rupee fell due to oil-related dollar demand on Monday, ending 2012 with its second consecutive yearly fall, weighed down by a wide current account gap, the slow pace of financial reforms, and economic uncertainty at home and abroad. However, the rupee ended the year with an improved tone, recovering some 4.2 per cent from the record low of 57.32 touched in June, when investor confidence in the economy and the government were at their weakest.

The partially convertible rupee on Monday fell 22 paise to close at one-week low of 54.99 against dollar versus its previous close of 54.7550/7650.

Data released just as the market closed showed the country’s current account deficit widened to an all-time high of 5.4 per cent of GDP in the July-September quarter as export growth slowed more sharply than growth in imports, dragging the balance of payments into the red once again.

While challenges remain, investors are hopeful of a mild recovery in 2013, as the Reserve Bank of India (RBI) is widely expected to start cutting interest rates as early as January, helping the economy recover after growth fell below 6 per cent in 2012. “2013 should be a good year for Indian markets, including the rupee,” said Ashtosh Raina, head of foreign exchange trading at HDFC Bank.

Reuters

NEWS UPDATES
Oman
Meeting recommends GCC centre for water treatment
Documentary on Oman screened in Paris
Oxy Oman signs deal to back SMEs
70 projects vie for HM e-governance award
Other Top Stories
US strikes hit militia in Kobani, Mosul dam
Canada House locked down, intruder shot dead
Sultanate, Abu Dhabi ink deal for first wind energy plant
Rowhani opposes bill to empower Islamic vigilantes
2 die after Ebola test sparks riot in Sierra Leone
Middle East
Four Blackwater guards guilty of ’07 Iraq killings
Unrest-hit Tunisian city sees no peace in sight as clock ticks on poll
Settlers grab land through shady deals
S. Arabia sentences 13 over plot to attack US soldiers
Iran lawyer up in arms over practice ban
Business
MSM surges 120 points on global cues, better earnings
Middle East equity issuance rises 43%
Oil could fall to $70 range in coming months: Moody’s
India may allow foreign firms in commercial coal mining
Wipro posts 8% rise in Q2 profit
Tainted firms feel heat of India ‘clean-up’ drive
DLF seeks relief from market ban
Beijing fears rate cut may fuel debt, property bubble
Japan hit by growing trade deficit
Total appoints new CEO after death of De Margerie
Apec to follow ‘flexible’ policies
Sports
Champions League throws up goal feast
Modest Guardiola says Bayern can do better
Ton-up Younis stands tall for Pakistan
Johnson not in Akram’s league yet, says Waqar
Utd job too big for Moyes: Alex
Scotland lifts Ghala Valley Open crown
Almouj gear up for NBO Golf Classic
AIBA suspends boxer Sarita and coaches

Sports


International

© 2013 Oman Tribune. All rights reserved. Best viewed in 800 X 600 resolution