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Representative image The rupee appreciated 7 paise to 77.49 against the US dollar in opening trade on Friday as crude oil prices retreated from the elevated levels. At the interbank foreign exchange, the rupee opened at 77.51 against the American dollar, then gained further ground to quote at 77.49, registering a rise of 7 paise from the last close. On Thursday, the rupee had settled at 77.56 against the US dollar. Global oil benchmark Brent crude futures fell 0.71 per cent to USD 111.24 per barrel. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.29 per cent higher at 103.02. Close According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee opened stronger against the US dollar on Friday supported by an overall fall in the greenback and easing bond yields. "Asian and emerging market peers have started weaker and could cap strength. However, crude prices have eased and could … [Read more...] about Rupee surges 7 paise to 77.49 against US dollar in early trade

Representative image The rupee inched 3 paise higher to close at 77.53 (provisional) against the US dollar on Friday, supported by a rebound in domestic equities. At the interbank forex market, the rupee opened at 77.51 against the greenback and moved in a range of 77.49 to 77.60 in the day's trade. The rupee finally ended at 77.53, higher by 3 paise over its previous close of 77.56. According to Dilip Parmar, Research Analyst, HDFC Securities, the lack of dollar demand and rebound in domestic equities augur well for the rupee. The dollar is about 2 percent off its recent high, seen last week, as risk-assets rebound after the People's Bank of China (PBOC) announced a 15 bps cut in the 5-year Loan Prime Rate to support the economy. The dollar index marked the first weekly decline after six weeks of upward movement, driven by position liquidation and preference for other currencies to emerge at a lower level. On the domestic equity market front, the BSE Sensex rebounded … [Read more...] about Rupee inches 3 paise higher to close at 77.53 against US dollar

The success of a well-run business is not determined by its financial performance levels alone, and that is why leaders need to take a holistic approach and consider how each area of the establishment and decisions made about specific contributions to the company can build it up or weigh it down. advertisement advertisement As you work towards achieving your financial goals, it’s also important to find the right balance and prioritize how to maintain a steady cash flow and make wise choices about how and where to invest your time and money to elevate the organization. Below are 16 members of Fast Company Executive Board to share some of the best practices they’ve received about how to manage their company finances. 1.  DEVELOP A LONG-TERM PERSPECTIVE. advertisement As Warren Buffet says: “Think long-term.” As a manager, you have to live months or years ahead of where your company is now. Ask where you want to be in a year and invest … [Read more...] about Leading executives share 16 tips that nurture corporate finance

(Representative Image) In news that comes as a relief to the common man, the Centre has decided to cut excise duty on petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will effectively reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre. Finance Minister Nirmala Sitharaman , while making the announcement on her Twitter handle on May 21, requested state governments to follow the lead, especially those who didn't announce a reduction last time (Novemeber 2021). "I wish to exhort all state governments, especially the states where reduction wasn’t done during the last round (November 2021), to also implement a similar cut and give relief to the common man", read her tweet. Also Read: Excise duty on fuel has to be reduced by Rs 10-12 as there is no other option: Former finance secretary 7/12 We are reducing the Central excise duty on Petrol by ₹ 8 per litre and on Diesel by ₹ 6 per litre. It will have revenue implication of … [Read more...] about Centre cuts excise duty on petrol by Rs 8 per litre, on diesel by Rs 6 per litre