Rupee touches new low

October 1st, 2009 NEW DELHI - India's exports in the five months since April have dipped 31 percent in dollar terms and 20.4 percent in rupee terms, government data released Thursday said. Imports fell 32.4 percent in dollar terms and 23.9 percent in rupee terms during the same period.

September 20th, 2009 KATHAMANDU - Pushkar Shah from Nepal, who pedaled around the globe, has returned home after completing a 11-year old odyssey on cycle. Addressing a news conference here on Saturday, Shah said that though peace has not prevailed throughout the world, but Nepal was relatively peaceful, so his world cycling tour has been fruitful.

July 6th, 2009 LUCKNOW - Embroidery artisans of Lucknow, known for their world famous embroidery work of Zardozi and Chikankari are facing a hard time and struggling to manage their two square meal. The enchanting creations by these ace artisans are known by two names Zardozi and Chikankari.

July 2nd, 2009 NEW DELHI - Amidst much speculation and expectations, Railways Minister Mamata Banerjee Thursday gave final touches to the rail budget, to be presented in parliament Friday. Shifting from the claims of high surplus by her predecessor Lalu Prasad, Banerjee has maintained from the day she assumed charge that her focus would be on improving passenger amenities and rationalisation of services such as Tatkal (instant ticketing) service.

June 17th, 2009 COIMBATORE - Union Textiles Minister Dayanidhi Maran has said that the government would try to achieve seven to eight per cent growth in the industry during the current fiscal year, April 2009-March'10. This would generate more than two million jobs every year, he said.

May 5th, 2009 MUMBAI - India's rupee Tuesday shot up 62 paise to close at a two-and-a-half month high of 49.30/31 against the US dollar, thanks to sustained capital inflows and the recent rise in the equities markets. During the trade at the Interbank Foreign Exchange (Forex) market, the domestic unit resumed strong at 49.60/62 against the dollar from its previous close of 49.92/94.

May 5th, 2009 MUMBAI - Citibank N.A. today announced the launch of the Preferred Rupee Checking Account, a one-of-a-kind niche offering for Non Resident Indians (NRI).

April 30th, 2009 NEW DELHI - Swine flu scare may adversely impact investment and business confidence in India, the research arm of rating agency Moody's said Thursday. 'The swine flu scare will likely weigh on wider economic activity such as household consumption and business investment,' Sharman Chan, an economist with Moody's Economy.com, said.

April 28th, 2009 BANGALORE - A steady weakening of the rupee in the volatile currency market has lowered the consolidated net profit of biotechnology major Biocon group to Rs.93.1 crore in 2008-09 from Rs.464 crore the year before, registering a whopping decline of 80 percent. 'Unpredictable rupee depreciation induced by global economic crisis has adversely impacted our consolidated earnings wherein losses of Rs.147 crore on account of mark-to-market (MTM) were provided,' Biocon chairperson Kiran Mazumdar-Shaw told reporters here Tuesday.

April 28th, 2009 BANGALORE - Biocon Limited today announced its financial performance for the financial year ended March 31. Unpredictable rupee depreciation induced by the global economic crisis has adversely impacted consolidated FY '09 earnings, wherein losses of Rs.

April 9th, 2009 MUMBAI - The Indian Rupee on Thursday depreciated to an all time low of 50.02 against the US currency. It had ended at 50.20 on Wednesday.

March 15th, 2009 MUMBAI - India's gems and jewellery exports declined 34.57 percent in February owing to the sharp depreciation of the rupee and slower demand, according to data released Saturday. The Gems and Jewellery Export Promotion Council (GJEPC) said gems and jewellery exports fell 34.57 percent to $1.22 billion (Rs.5.91 billion) last month from $1.86 billion in the same period last year.

February 28th, 2009 MUMBAI - The Indian rupee closed at a new low of Rs.51.10/12 against one US dollar as importers stepped up demand for the greenback and foreign investors pulled out $59.20 million from capital markets during the day. The rupee had touched a historic intra-day low at Rs.51.17 to a dollar but recovered to close at Rs.51.10-levels.

February 16th, 2009 MUMBAI - Gold prices Tuesday zoomed Rs.360 to a record high of Rs.15,200 per ten grams in Indian bullion market on strong global cues and support from a weak rupee. The yellow metal continued its bull run at international markets also as investors kept buying gold amid worsening global economic outlook.

February 15th, 2009 NEW DELHI - The major part of the government's revenue comes from borrowings. Consequently, the biggest chunk of expenditure is on interest payments.