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Rupee closes lower against dollar

Narrowing of the current account deficit in the second quarter wasn't enough to lift sentiment as local stocks turned weak and the RBI said the entire dollar demand of oil marketing companies had returned to the forex market.

Government said it has cleared 12 foreign investment proposals, including that of Swedish fashion major Hennes & Mauritz, totalling Rs 821.63 crore.
The lifting of the European Union restrictions on insurance opens the door for Indian refiners to increase imports to contract levels without breaching sanctions.
Chidambaram based his optimism on several factors such as improvement in Current Account Deficit, output of the services sector and recovery of exports.
World Bank India head Onno Ruhl said the bank was encouraged by the second quarter GDP numbers and sectors like exports, agriculture and service doing well.
Continuing their buying spree for the third straight month, foreign investors pumped in more than Rs 8,000 crore ($1.3 billion) in Indian equities in November.
The price of diesel in Delhi will be hiked by 57 paise, including tax, to Rs 53.67 per litre, while it will cost Rs 60.70 a litre in Mumbai as against 60.08 currently.