On December 5, Reserve Bank Governor Sanjay Malhotra said the central bank does not target any band for the rupee in the forex market and allows the domestic currency to find its own correct level
The Finance Act 2022 had mandated a 1% TDS on any transfer of Virtual Digital Assets (VDAs) or cryptocurrencies
Tech Mahindra, HCL Technologies, Reliance Industries and HDFC Bank were the only gainers
Forex traders said strong dollar demand from corporates, importers and foreign portfolio investors pressurised the rupee
The 30-share BSE Sensex dropped 316.52 points, or 0.37%, to 85,395.85 in the morning trade. The 50-share NSE Nifty declined by 106.70 points, or 0.41%, to 26,079.75
Rising for the second day in a row, the 30-share BSE Sensex advanced 447.05 points, or 0.52%, to settle at 85,712.37. During the day, it jumped 531.4 points, or 0.62%, to 85,796.72.
Investors remained on the sidelines amid relentless foreign fund outflows and mixed global trends
Selling pressure from foreign investors, rising crude oil prices and the delay over the announcement of the India-U.S. trade deal have also weighed on the rupee
The Rupee rebounded from its all-time low levels supported by weak U.S. dollar index