Already a member Login
USDINR closed at 62.16 against its open at 62.32.
Sensex provisionally ends up 77.62 points with 12 components in the green.
Governor Raghuram Rajan cut the benchmark repurchase rate to 7.5 percent from 7.75 percent, the Reserve Bank of India said in a statement on Wednesday.
The European Central Bank is also to announce its monetary policy decision. The rate announcement will be followed by a post-policy meeting press conference with President Mario Draghi.
The ECB, which starts its quantitative easing (QE), or bond-buying, programme of more than 1 trillion euros this month, is expected to detail the plan after the meeting.
The U.S. is to release the weekly report on initial jobless claims and data on factory orders.
China on Thursday announced an economic growth target for this year of around 7 percent, signalling its lowest rate of expansion for a quarter of a century, and said it would increase government spending to support the slowing economy.
The biggest exchange-traded fund tracking Russian stocks dropped the most in a week after President Barack Obama said the U.S. will extend some sanctions linked to the Ukraine conflict and as oil prices declined.
The Dollar had gathered momentum on better than expected service sector data in the US, which raised expectations of rate hike by the Federal Reserve as early as June ahead of the release of monthly jobs data for the US.
Prime Minister Narendra Modi will offer island nations in the Indian Ocean a broad range of military and civilian assistance next week in a bid to wrest back some of the influence China has gained by spending billions of dollars in the region.
The Treasury yields are mostly flat as a weaker-than-expected private sector employment report by the ADP was followed by a better-than-expected service sector report, which highlighted the rise in service sector employment.
United Kingdom BoE Asset Purchase Facility meets expectations (£375B).
United Kingdom BoE Interest Rate Decision meets forecasts (0.5%)
INTEREST RATE CUT BY RBI & IT'S IMPACT
2000-2014 © eforexindia.com Private Limited | Powered by: