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USDINR opened at 61.93 against its previous day close at 61.87.
Sensex is trading 300 points higher on the last trading session of this week. On watch is the GDP data, due post market hours
OPEC Gulf oil producers will not propose an output cut, reducing the likelihood of joint action to prop up prices that have sunk by a third since June.
Finance Minister Arun Jaitley will meet Reserve Bank of India Governor Raghuram Rajan on Dec. 1 to urge a cut in interest rates when the central bank holds a policy meeting the next day.
RBI releases guidelines for licensing of payments banks.
Oil prices plunged after OPEC chose not to cut production despite huge oversupply and prices sliding by a third since June.
Gold extended losses into a third session, dropping to a one-week low, on expectations that plunging oil prices could sap inflationary pressure, curbing the metal's appeal as a hedge.
Precious metals declined as lower oil prices prompted concerns about deflation.
OPEC is clearly signalling that it will no longer bear the burden of market adjustment alone and this decision puts the onus on other producers.
According to draft documents seen by Reuters, Spain, Portugal, Austria, and Malta are also at risk of busting budget limits.
The European Commission will tell France, Italy and Belgium on Friday their 2015 budgets risk breaking EU rules, but it will defer decisions on any action until early March
Bank of Japan's massive bond buying quest to vanquish deflation crushed short-term debt yields.
GDP data, due post market hours, and the RBI policy review on Tuesday are in focus.
India's Sensex has risen 1.1% as oil prices slump to 4.5-year lows on OPEC's decision not to cut output.
Review of FOMC Minutes
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