Retail Inflation Slackened, IIP Surged
Retail inflation eased to a 17-month low in November on the back of sliding prices of food items.
Economy
Rupee Bounced Up by 42 Paise to 71.59 After New Governor’s Appointment
Rupee stuck up at 71.59, approximately by increase of 42 paise.
Rupee Hit the Skids by 53 Paise
In the wake of turbulence in state election environment, another trouble has been lined up for Indian economy as the rupee continues to fall by 110 paise in early trade Tuesday but still ended 53 paise lower at 71.85 against the US dollar following RBI Governor Urjit Patel’s shock exit coupled with the loss of the ruling BJP in key state elections.
Gold Prices Climbed Up in Asia
Gold Futures for February delivery rose 0.18% to $1,250.55 at 11:37 PM ET (03:37 GMT) on the Comex exchange, while the U.S. dollar index, tracking the greenback against a basket of six currencies, weakened 0.01% to 97.38.
RBI Governor Urjit Patel Resigned, Rupee Slumped 1.5%, Sensex Down by 521 Points
Reserve Bank of India Governor Urjit Patel resigned from his post amid the slump in rupee and slackening of the sensex by 1.5% and 1.49% respectively on Tuesday morning.
Cabinet Approved Modifications in National Pension Scheme
The government granted NPS exempt, exempt and exempt or EEE status.