Benchmarks snap 2-week losses; Nifty ends above 23,600 level
Mumbai, June 12 -- The domestic equity indices ended the week with strong gains, snapping two week losses, supported by optimism over a potential U.S.-Iran peace deal and measures announced by the Reserve Bank of India (RBI) to boost foreign currency inflows.
Investor sentiment was further strengthened after the RBI introduced a US Dollar-Rupee forex swap facility for eligible external commercial borrowings (ECBs) raised by public sector undertakings and overseas foreign currency borrowings raised by authorised dealer banks. The central bank also launched a forex swap facility for fresh Foreign Currency Non-Resident (Bank) FCNR(B) deposits mobilised by banks. The facility covers FCNR(B) deposits with maturities ranging from three to five...
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