MUMBAI: The Indian rupee opened with marginal loss of 13 paise at 62.95 per dollar on Thursday versus 62.82 Wednesday. The dollar edges upward after a 6.1 percent jump in US home sales data lifted expectations Federal Reserve policymakers may soon hike interest rates. Mohan Shenoi of Kotak Mahindra Bank said, “Globally, dollar continues to be trading in a range against major currencies with mixed US data offset by Grexit worries. Locally, weak stock market and RBIs view that the currency is overvalued is keeping the rupee under pressure. Rupee is expected to trade in a range of 62.85-63.20/dollar today.”
Pakistan to get $3b loan from Islamic Trade Financing Corporation
ISLAMABAD: Islamic Trade Financing Corporation (ITFC) to provide Pakistan with a $3 billion loan, according to an official statement released...
