Rising for the sixth straight day, the rupee strengthened by 8 paise to 63.32 against the dollar in early trade on Tuesday at Interbank Foreign Exchange on sustained selling of the American currency by exporters and banks.

    Forex dealers said increased capital inflows as well as higher opening in the domestic equity supported the rupee. They said, however, greenback's strength against other currencies overseas capped the gains.

    The rupee had ended higher by 4 paise to 63.40 against the US currency in Monday's trade following consistent selling of dollar by banks and exporters.

    Meanwhile, the benchmark BSE Sensex rose by 122.04 points or 0.43% to 28,330.80 in early trade.

Parties harden stance on FDI

  • HT Correspondent, Hindustan Times, New Delhi
  • |
  • Updated: Nov 27, 2012 02:03 IST

The all-party meeting on Monday, failed to break the ongoing deadlock over the FDI issue in the winter session. The opposition insisted that a parliamentary voting on FDI was non-negotiable. The government said voting on its executive decision was not possible.

And outside supporters Samajwadi Party (SP) and Bahujan Samaj Party (BSP) and friend-turned-foe Trinamool Congress (TMC) hinted that they might not be averse to a debate without voting, while stating that the final decision rested with the speaker.

Ultimately, the government's decision will depend on two things - whether SP, BSP and DMK will abstain from voting and if the UPA is fine with a defeat in Rajya Sabha, where it would be difficult to win a vote even if these parties abstain. http://www.hindustantimes.com/Images/Popup/2012/11/27-11-12-Metro-01d.jpg

Parliamentary affairs minister Kamal Nath has left the door for negotiations open with a "I will discuss the matter with the presiding officers of both houses to see how parliament gets to work. We will find a way out."

Meanwhile, giving in to the DMK's demand, a meeting of UPA partners has been called on Tuesday even as the government is working on the SP and BSP.

And Prime Minister Manmohan Singh even met SP chief Mulayam Singh Yadav to persuade him to come on board.



But complicating matters further for the government, the SP and BSP have crossed swords over yet another controversial issue.

At the all-party meeting, BSP chief Mayawati demanded an early passage of a bill to provide reservation in promotion for SCs and STs in government jobs but the SP vehemently opposed it.

At this juncture the last thing the government needs is a confrontation with either of the two outside supporters.

At the meeting, finance minister P Chidambaram said it will send a wrong signal to foreign investors and lead to a deep divide in the political spectrum.

Since it opened last Thursday, Parliament has not conducted any legislative business.

 

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UPA to meet to discuss provision of voting on FDI

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