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Rupee surges 52 paise to 92.54 against dollar; US-Iran ceasefire, RBI stance lift sentiment

The rupee appreciated 52 paise to close at 92.54 against the US dollar on Wednesday after US President Donald Trump announced a two-week suspension of military strikes against Iran and the Reserve Bank kept policy rates unchanged, PTI reported.Forex traders said investor sentiment improved following Governor Sanjay Malhotra’s assurance that recent forex measures do not…

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SEZ domestic sales at concessional duty will boost import substitution and jobs, says commerce secretary

Commerce Secretary Rajesh Agrawal (Photo-PTI) The Budget FY27 proposal to allow Special Economic Zone (SEZ) units to sell goods in the domestic market at concessional duty rates is expected to boost import substitution and generate employment, Commerce Secretary Rajesh Agrawal said, adding that detailed operational guidelines will be rolled out in the next two to…

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LPG price cut: Commercial cylinder becomes Rs 10 cheaper; domestic rates remain unchanged

NEW DELHI: State-owned oil marketing companies on Monday reduced the price of commercial LPG cylinders by Rs 10 per unit, offering relief to the hospitality sector.However, airlines are set to face renewed cost pressure as Aviation Turbine Fuel (ATF) prices were hiked for the third month in a row.With the latest revision, the price of…

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