Rupee opens 2 paise lower against dollar

MUMBAI: The rupee opened 2 paise lower at Rs 45.64 per US dollar in early trade on the Interbank Foreign Exchange today amid demand for the American currency from importers and appreciation of the greenback against other currency rivals overseas.

The rupee had strengthened by 13 paise to Rs 45.62/63 per dollar in the previous session.

Forex dealers said gains registered by the dollar against euro overseas, in addition to demand from importers, mainly weighed on the rupee sentiment.

However, a higher opening in the stock market and closure of Asian markets to mark the Lunar New Year restricted the rupee losses, they said.

Meanwhile, the Bombay Stock Exchange benchmark Sensex rose by 57.32 points, or 0.31 per cent, to 18,147.94 in opening trade today.

TOI

BSNL may delay its $10 billion IPO on global financial crises

Oct-13-2008, BSNL may delay its proposed $10 billion public offer, line up to be the largest in the country, due to the global financial crises. The telecom company had revived its IPO plans in July, after the Left parties withdrew support to the UPA government.
According to a top BSNL board member, "Yes, the market conditions are not conducive for a listing. I do not agree that the IPO has been shelved; it has been delayed. The political establishment can push it through, but that is not happening either. It (the IPO) therefore cannot happen during the current government's tenure. We will wait and see what happens after March next year. I must add that the management continues to favor the IPO