The Indian rupee fell to a more than two-year low on Wednesday, inching closer to a record low of 68.85 hit in August 2013, as a continued fall in global oil prices raised concerns about the global economy.
Snapping its three-day losing streak, the rupee edged higher by 8 paise to 66.60 against the dollar at the Interbank Foreign Exchange in early trade on Tuesday, on fresh selling of the American currency by exporters and banks.
The BSE Sensex staged a turnaround on Thursday to trade with modest gains, led by better-than-expected results from IT heavyweight Infosys propping the indexes towards a second consecutive day of gains.
H-1B and L1 visas are non-immigrant visas used by companies to employ foreign nationals in the United States temporarily. H-1B is meant for persons in specialty occupations and L1 is meant for intra company transfers. The former is used when non-US-based companies recruit people for posts in the US and the latter is what happens when Indian IT professionals are given “on-site” stints in the US. One L1 visa is issued for five H-1B visas.