The rupee opened higher eight paise at 66.54/$ against US Dollar Monday as against the previous close of 66.62/$. The rupee opened higher eight paise at 66.54/$ against US Dollar Monday as against the previous close of 66.62/$. On the economy front, Fiscal deficit in the first five months of the current fiscal stood at Rs. 4.08trn, which was 76.4% of Budget estimates for 2016-17. India's eight core industries, which have a weight of 37.90 percent in the Index of Industrial Production (IIP), grew by 3.2 percent in August, 2016 as compared to the same monthof the previous year. Nikkei Manufacturing PMI for Sept will be announced today. The monetary policy committee (MPC) meets today and tomorrow and the new RBI governor will announce the policy post lunch tomorrow. The dollar is firming up while the sterling hit over a month-low after Britain set a March deadline for Brexit. Market participants are anxiously awaiting the Monetary Policy Review on October 4, the first to be held under the newly appointed RBI Governor Urjit Patel and the first to be decided by a six-member panel. On the global front, the US non farm payrolls report for September would come on Friday. India's foreign exchange reserves increased by $1.2 billion to $371 billion in the week ended September 23, the Reserve Bank of India said. The Indian currency ended higher by 24 paise at 66.61/$. The local unit had hit a high of 66.75 and a low of 66.81. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.65 and for the Euro stood at 74.75. The RBI’s reference rate for the Yen stood at 66.05; reference rate for the Great Britain Pound (GBP) stood at 86.4242. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , SEBI Registered Company , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Jewelers Contract , Commodity market tips , call @ +91-7415033556 or fill form http://tradeindiaresearch.com/freetrial.php
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