Dollar fell by 16 paisa on Thursday and closed near day’s low even as
equity indices failed to sustain higher levels and fell during later
part of the day USDINR futures opened the day at 46.34 and closed at
46.18 as equity indices climbed to touch 5181 levels but gave up the
gains soon after and closed at 5131 levels.

The main event of the day was ECB’s interest rate meeting which was

Dollar fell by 16 paisa on Thursday and closed near day’s low even as equity indices failed to sustain higher levels and fell during later part of the day USDINR futures opened the day at 46.34 and closed at 46.18 as equity indices climbed to touch 5181 levels but gave up the gains soon after and
closed at 5131 levels.

HOT MARKET NEWS :* INFRA : Govt approves eight road projects worth Rs108bn in three states of Jammu & Kashmir, Karnataka and Haryana* BANKS : rpts Govt is considering a proposal to increase its stake in select PSU banks where it holds close to 51% stake as part of recapitalisation scheme* TATA STEEL : swaps $875mn worth bonds due to mature in 2012 by longer dated convertible bonds redeemable in 2014 giving it more time to pay bk its debt

Market News * PUNJ LLOYD : wants to increase its highways portfolio in India.. looking to participate in projects covering 2,000-3,000Kms over the next six months*  MOSER BAER : plans to invest $5bn in next 10 years to expand its solar photovoltaic mfring facilities over the next 10 years* TECH SECTOR : Nasscom, Indian software services body, expects the sector to regain double-digit growth from April

India's foreign reserves fell further to USD 279.91-billion for the week ended
September 25 as compared to USD 280.77-billion in the previous week.

Still at gain of 23 Billion over December 08.

Source RBI

http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=21467