Indian Rupee News

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However, the report adds that any fresh escalation in cross-border tensions or enhanced trade tariff issues could weigh negatively on rupee sentiment. T

MCX Gold June 5 contract traded 0.95 per cent higher at Rs 93,317 per 10 grams in the morning trade. 

The US will reduce tariffs on Chinese goods from 145 per cent to 30 per cent for 90 days, while China said it will cut tariffs on US goods from 125 per cent to 10 per cent for 90 days. 

The intensification of trade war risks and uncertainty surrounding US trade policies have led to market concerns. 

At the interbank foreign exchange, the rupee opened on a weak note at 86.58, and during the day touched a high of 86.49 and a low of 86.61 against the American currency. 

Will the $5 billion downward revision in gold imports be a positive thing for Indian Rupee? Check What analyst says.

At the interbank foreign exchange, the rupee opened at an all-time low of 84.87 against the greenback. 

The Rupee traded at 83.85 versus Friday's closing of 83.75. It opened at 83.78, surpassing the previous lifetime low of 83.7525 from Friday.

Crude oil prices firmed up in early Asian trade. Brent crude, the global oil benchmark, gained 0.35 per cent to trade at USD 85.64 per barrel. Oil for Indian basket was up at USD 84.50 per barrel.

It might take some time for the currency to top the charts, but clearly the stage is set for the Indian Rupee to replace the dollar in the coming years. It

Indian Rupee is in the Race to take over the American Dollar. More than 18 countries have agreed to use Rupee for International trade with India. After this more than 35 countries have shown their interest to trade in Indian Rupee. The global importance of the Indian Rupee has risen in the last few years after India-Russia, India-UAE and India-Singapore agreements on trade deals in INR. Which has also led to a decrease of the use of dollars in international trade.

The popularity of the Indian rupee in international trade is continuously increasing. So far, the dollar has had a major share in global trade and most of the countries of the world use dollars to buy and sell goods from each other. Many countries of the world have taken interest in using rupee for international trade.

However, the local currency retreated from early highs amid volatile stock markets and touched a low of 82.05 in afternoon trade at the interbank foreign exchange market.

The rupee is likely to strengthen towards 79 by end-FY24: Tanvee Gupta Jain Narrowing the current account deficit will help the rupee strengthen against USD. Reserve Bank will cap any significant rupee gains to rebuild buffers: Jain

It can be noted that as of now, India has been successful in forging agreements with 18 countries.

Now India's rupee has made an entry in Global Trade as well. Soon many countries of the world will start trading with India in rupees. 18 countries of the world have shown interest in doing business with India in rupees.

The latest report says that as more nations try to de-dollarize international trade, the Indian rupee is getting closer to becoming a recognised currency. 

The dollar has appreciated by 4.4 percent in terms of the dollar index.

Does writing anything on the bank note make it invalid? Here's truth. PIB confirms that bank notes with scribbling are not invalid and continue to be legal tender. Under the clean note policy, people are requested not to write on the currency notes as it defaces them and reduces their life.