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Rupee Bank Jobs
Industry : Banking
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Rupee closes weak
THE rupee on Monday ended at 40.53/54 levels per dollar, marginally weaker than die previous close of 40.52 per dollar. The local currency breached the 40.50 mark per dollar and rose to an intra-day high of 40.44 against the greenback. But, as the local currency swept past the 40.50-mark, nationalised banks stepped in to buy dollars, on behalf of the central bank. Public sector banks were seen mopping up dollars between the 40.46-40.51 levels, as the RBI was more concerned about the rupee rather than the impact of rising liquidity caused due to its intervention. Forward premia ended
Rupee appreciation hurting exports, says Nath
NEW DELHI: The government on Monday said appreciation of the rupee against the dollar is hurting exports and it was planning a package to soften its impact on employment-intensive sectors, which do not rely heavily on imports. "The appreciation of the rupee is (adversely) impacting exports. We have invited comments from export promotion councils on how to cushion employment intensive industries, where dependence on imported inputs was less, from it," commerce minister Kamal Nath said. In Vadodara, textile minister Shankersinh Vaghela said the strengthening rupee may affect the growth of textile exports.
Rising rupee scare apparel sector: AEPC
Fears of a negative growth haunt the country's apparel sector as the surging rupee has affected the sector's exports adversely. The industry has witnessed a dramatic decline in its growth from 30% in 2005-06 to around 7-8% in FY 07, according to Apparel Export Promotion Council's (AEPC) chairman, Vijay Agarwal.
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