Rupee tanks below 80/dollar https://ift.tt/ebGtzku, currency deals were reported at 80.05 to a dollar immediately after the formal trading hours in the over-the-counter market where corporate clients and large banks transact. Also, in the non-deliverable forwards, the notional spot value touched 80, dealers told ET. It dropped to as much as 80.18 until Thursday evening.
Government's cash surplus tops Rs 3.4 lakh crore https://ift.tt/54P3HSG from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government's cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.
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