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On Tuesday morning, the Indian rupee experienced a drop against the US dollar, influenced by rising crude oil prices and persistent demand for dollars. Brent crude futures remained above ninety-one dollars per barrel, amplifying the necessity for dollars. Compounding this issue was the Reserve Bank's recent closure of a forex-swap facility, which affected inflows. Additionally, domestic equities opened on a low note as foreign investors continued to sell shares.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/kPVdQ6a
Stock market recommendations: Ujjivan Small Finance Bank, and 360 One Wam have been identified by Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities as the top stocks to buy on August 17, 2026.
The Indian rupee fell against the US dollar at the start of Monday, influenced by the Reserve Bank of India's move to advance a deposit swap deadline. While the bank had previously drawn in substantial foreign currency, analysts predict temporary support for the rupee, though overall weakness is expected. Additionally, domestic stock markets recorded a drop early in the trading session.
Throughout August, banks will have multiple closures due to various regional and national holidays. Customers are encouraged to verify the specific holiday hours pertinent to their state before heading to a branch. Key closures include August 25 and 26 for Milad-Un-Nabi and Thiruvonam, with an additional break on August 28 for Raksha Bandhan and other local celebrations. Fortunately, online and mobile banking services will remain available during this period.
The Reserve Bank of India (RBI) has laid out some guidelines for lenders on recovery of loans, and whether they can block or lock the device that has been purchased via EMI financing. This new framework will come into effect from January 1, 2027.
