MUMBAI (Reuters) – The rupee came off near three-month highs to end lower on Tuesday after gains from the government’s move to raise the import tax on gold were erased by dollar demand from state-run banks and weak equities.

The government, late on Monday, raised the import duty on gold by 2 percentage points to 6 percent in a bid to curb purchases and rein in the country’s bloated current account deficit.

MUMBAI, Jan 22 (Reuters) – The Indian rupee came off near
three-month highs to end lower on Tuesday after gains from the
government’s move to raise the import tax on gold were erased by
dollar demand from state-run banks and weak equities.

The government, late on Monday, raised the import duty on
gold by 2 percentage points to 6 percent in a bid to curb
purchases and rein in the country’s bloated current account
deficit.

MUMBAI (Reuters) – The rupee fell on Monday, retreating from a two-and-a-half-month high hit earlier in the session and snapping two sessions of gains, due to sustained dollar demand from oil refiners.

The dollar demand from oil refiners looking to meet payment obligations offset purchases of the local currency by foreign funds in a session with thin trading volumes because of a U.S. public holiday.

MUMBAI, Jan 21 (Reuters) – The Indian rupee fell on Monday,
retreating from a two-and-a-half-month high hit earlier in the
session and snapping two sessions of gains, due to sustained
dollar demand from oil refiners.

The dollar demand from oil refiners looking to meet payment
obligations offset purchases of the local currency by foreign
funds in a session with thin trading volumes because of a U.S.
public holiday.

MUMBAI, Jan 18 (Reuters) – Indian government bond yields
came off lows to end higher on Friday as dealers chose to focus
on the central bank’s rate decision later this month and took
profits on recent gains triggered by the government’s move to
allow fuel retailers to raise prices.

The government’s move to gradually phase out diesel
subsidies is widely expected to cut the subsidy bill and lower
the fiscal deficit, though the Finance Minister has said he
could not quantify immediate benefits.

MUMBAI, Jan 17 (Reuters) – Indian government bonds rose on
Thursday, snapping a two-session fall, after the government
allowed state-run refiners to set diesel prices, a move that
could help cut the nation’s bloated subsidy bill.

Gains were, however, capped as the government said any price
hike could only be incremental, raising concerns that political
control over such hikes would remain. [ID:ID:nL4N0AM5W5]

MUMBAI, Jan 16 (Reuters) – India’s benchmark government bond
yields rose their most in two-and-a-half months on Wednesday
after the central bank chief was reported by media as saying
inflation was “still quite high”, denting hopes of a 50 basis
points rate cut this month.

Data on Monday showed inflation in December had fallen to a
three-year low, sparking hopes the Reserve Bank of India could
cut interest rates by as much as 50 bps at its policy review on
Jan. 29.

MUMBAI (Reuters) – The rupee fell on Friday as factory output contracted and exports fell for the eighth straight month, highlighting the currency’s vulnerability to a weak economy despite sustained capital inflows.

The rupee started the session on a strong footing on overnight euro gains after the European Central Bank kept rates on hold on Thursday, but large government-related dollar buying by a state-run bank and weak exports pushed the local unit to the day’s low of 54.8450 per dollar, dealers said.

MUMBAI, Jan 11 (Reuters) – The Indian rupee fell on Friday
as factory output contracted and exports fell for the eighth
straight month, highlighting the currency’s vulnerability to a
weak economy despite sustained capital inflows.

The rupee started the session on a strong footing on
overnight euro gains after the European Central Bank kept rates
on hold on Thursday, but large government-related dollar buying
by a state-run bank and weak exports pushed the local unit to
the day’s low of 54.8450 per dollar, dealers said.

MUMBAI (Reuters) – The rupee rose for a third session on Thursday, its biggest winning streak in over a month, as continued capital inflows helped absorb steady dollar demand from oil refiners.

The rupee was also helped by a late surge in the euro which hit a session high in European trade after good demand at a Spanish bond auction.