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Economy and Politics

The Indian currency closed stable at Rs 44.72/73 against the US currency in the previous session on Friday on alternate bouts of buying and selling.

India's foreign exchange reserves rose by $2.69 billion to $312.90 billion on the back of healthy jump in foreign currency assets in the week ended June 3.
Industrial production registered a growth of 6.3 per cent in April as per the new series that was released on Friday with a base year of 2004-05.
The riders for opening up FDI in multi-brand retail include 51% investment in back-end infra and 30% sales to small retailers.
The Enforcement Directorate has registered a case of money laundering against Amar Singh. The agency has dispatched notices to Singh, his wife and Amitabh Bachchan.
India's exports grew by an impressive 56.9 per cent to $25.9 billion year-on-year in May on account of increasing demand from the Western markets.
The Indian rupee strengthened on the Interbank Foreign Exchange, largely in tandem with dollar weakness against other Asian currencies overseas.
The Indian currency had declined by 3 paise to close at Rs 44.70/71 against the US currency yesterday on mild dollar demand from banks and importers.
Forex dealers said strengthening of the dollar against the euro and Asian currencies and a lower opening in the stock market mainly put pressure on the rupee.
"Since oil marketing companies are incurring heavy losses, action on deregulation of diesel prices will have to be taken," PMEAC Chairman C Rangarajan said.