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USDINR closed at 62.36 against its open at 62.32.
Sensex provisionally ends down 241.53 points; 19 components in the red.
An index of Asian shares edged away from fresh seven-year highs on Friday but was still on track to score weekly gains, while the dollar languished after lackluster U.S. economic data made a near-term interest rate hike appear less likely.
U.S. and European investor groups are upset with the Minimum Alternate Taxation (MAT) measure, which would apply levies for past years at a higher rate than they had been subject to in the past. Tax experts say the foreigners may owe $8 billion.
China’s first mutual fund to gain access to the Hong Kong exchange link says stocks in the city are still cheap after surging to seven-year highs.
Japan’s Topix index fell from a seven-year high, paring its third straight weekly increase, as the yen strengthened for a sixth day. Retailers and energy producers led losses.
Atlanta Federal Reserve Bank president Dennis Lockhart said the recent "murky" run of U.S. data has him leaning against a June interest rate hike.
Speaking to The Forecasters Club, Cleveland Federal Reserve President Loretta Mester saw positive signs in the US economy and suggested starting to tighten monetary policy sooner rather than later.
U.S. housing starts rose far less than expected in March & factory activity grew modestly this month, suggesting the economic momentum will probably not be strong enough for the Fed to decide to start raising as early as June.
Greek Prime Minister Alexis Tsipras told he was "firmly optimistic" his government would reach an agreement with its creditors by the end of April despite friction over issues such as pension and labour reform.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending April 11 increased by 12,000 to 294,000 from the previous week’s total of 282,000.
Investors are watching Greek developments after International Monetary Fund Managing Director Christine Lagarde warned that she wouldn’t let Greece skip a debt payment to the lender.
India's March trade deficit at $11.79 billion; 2014/15 trade deficit at $137.01 billion - trade ministry
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