Major Asian stocks opened lower Tuesday after jitters over the speed of rate hikes by the US Federal Reserve drove down Wall Street shares overnight. MSCI’s index of Asia-Pacific shares outside Japan was trading 0.54 per cent lower.
The Indian rupee weakened to a historic low of 87.35 against the U.S. dollar, influenced by expectations of an impending rate cut by the Reserve
The customs duty had about 550 crore estimated impact when the announcements came in July and it is by and large played out to that
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