Wednesday, 6 April 2016

Stock Trading Tips with Currency Market News




Rupee down 28 paise at 66.65 against US Dollar
The Indian rupee on Wednesday hit a three-week low against the US dollar and closed lower by 28 paise. The rupee slipped on fresh demand for the dollar from banks and importers. And weak Asian currencies also weighed on the rupee.

On the domestic front, RBI at the monetary policy review decided to cut the repo rate by 25bps to 6.5%, while reducing the minimum daily maintenance of CRR from 95% to 90%. The central bank has gradually lowered the average liquidity deficit in the system from 1% of NDTL to a position closer to neutrality.

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