 | Rupee gains 46 paise to 78.94 against US dollar ahead of RBI policy outcomeAt the interbank foreign exchange, the rupee opened at 79.15 against the American dollar, then touched 78.94, registering a gain of 46 paise over the last close. |
 | Govt cuts windfall tax on diesel, ATF export; raises levy on domestic crude oilIndia first imposed windfall taxes on July 1, joining a growing number of nations that taxes super normal profits of energy companies. |
 | Rupee rises 13 paise to 79.11 against US dollar in early tradeAt the interbank foreign exchange, the rupee opened at 79.16 against the US dollar and touched 79.11 in initial deals, registering a rise of 13 paise over the last close. |
 | Indian Oil Corporation reports first loss in two years; sold petrol at Rs 10 per litre loss, diesel at Rs 14This is the first quarterly loss in over two years. The company had reported a net loss in January-March 2020, but that was on account of inventory losses on processing costlier crude. |
 | Markets fall in early trade on weak global trendsThe 30-share BSE benchmark declined 75 points to 55,193.49 points in the early trade. The broader NSE Nifty dipped 33.6 points to 16,450.25 points. |
 | Rupee falls 10 paise to 79.88 against US dollar in early tradeAt the interbank foreign exchange, the rupee opened at 79.83 against the US dollar, then fell to 79.88 against the greenback, registering a decline of 10 paise over the last close. |
| Rupee rises 9 paise to 79.81 against US dollar in early tradeOn the domestic equity front, the 30-share Sensex was trading 95.33 points or 0.17% lower at 55,976.90 points, while the broader Nifty declined 31.80 points or 0.19% to 16,687.65 points. |
 | From investment portfolio to education abroad: Here is how rupee depreciation impacts your moneyAs much as 86% of Indian imports are invoiced in dollars. Therefore, when the rupee depreciates against the US dollar, imports become costlier in rupee terms. |
 | Rupee at 80 against US dollar; here's some pros and cons of a weak currencyIndia's forex reserves had dropped for five out of the past six straight weeks, on account of RBI's likely intervention in the market to defend the depreciating rupee. |
 | Government cuts windfall tax on petrol, diesel, jet fuel, crude oilBesides, the tax on diesel has been reduced to Rs 11 from Rs 13 per litre, according to finance ministry notifications. |
 | ‘At one-fourth of import price, India can produce oil’: Anil AgarwalHe further added that while 20% of companies can be privatised, the rest, including defence factories, should be corporatised with the condition that there will be no job loss. |
 | India’s crude imports from Russia up 7.2 times in April-May 2022India, which used to import around 2% of its oil needs from Russia, has enhanced its imports ever since the war broke out between Russia and Ukraine. |
 | Snapping two-day losses, Indian stock indices rise marginallyThe major positive development from India's economic and market perspective is the crash in Brent crude to below $100 for the first time since March 22 |
 | Rupee plunges to record low as dollar climbs, trade deficit widensAmid these challenges, certain brokerages expect further weakness in the local unit in the coming months. |
 | Windfall tax on crude oil: Govt rakes in Rs 1.3 lakh crore; here's what brokerages sayJP Morgan said while the duties on steel/iron ore helped reduce domestic prices and curb inflation, a higher tax on gold should decrease imports and help the external balance marginally. |
 | India raises excise duty on fuel to curtail export by private fuel retailersThe decision seems to have been taken after private fuel retailers like Jio-BP and Nayara Energy reportedly exported oil to other countries, after acquiring cheap crude from Russia. |
 | Industry welcomes deregulation of locally produced oilThe government on June 29 allowed firms like ONGC and Vedanta to sell locally produced crude oil to any Indian refinery for turning it into fuels such as petrol and diesel. |
 | Government deregulates domestic crude oil marketThe government on Wednesday deregulated the sale of domestically-produced crude oil, giving companies autonomy to sell their produce to whomever they want. |
 | Government gives ONGC,Vedanta freedom to sell crude oilThe decision would allow Oil and Natural Gas Corporation and Oil India Ltd to sell their domestic produce to anyone offering the most price in an e-auction. |
 | Rupee recovers from record low, opens 12 paise up at 78.20 against US dollarAt the interbank foreign exchange, the rupee opened at 78.20 against the American dollar. In initial trade, the local currency witnessed a high of 78.19 and a low of 78.24 against the US dollar. |
