Rupee depreciation News
Union Finance Minister Nirmala Sitharaman says, “the Rupee depreciation is very small in comparison to the rest of the world"
BJP's IT chief shared an infographic depicting the rupee's depreciation about other currencies
Amit Malviya and Kharge got into a Twitter tussle over Rupee depreciation
On Tuesday, the rupee had appreciated 34 paise to 69.43 against the American currency.
S&P Global Ratings, in a report, said most emerging market issuers are buffered against further currency depreciation and do not face immediate downgrade risk from currency depreciation.
Imports of the precious metal stood at USD 16.96 billion in April-September 2017-18 financial year, according to the commerce ministry data.
It had closed at a one-week high of 71.84 on Friday.
The rupee today slumped 43 paise against the dollar to trade at a life-time low of 70.32 on strong demand for the US currency.
Rupee breached 70 per dollar mark for the first time in late morning trade today.
The rupee hit an all-time low of 70.1 to a US dollar earlier on Tuesday on concerns over Turkey's economic woes.
India’s foreign exchange reserves dipped marginally to $360.19 billion as on May 27, the Reserve Bank of India (RBI) has said.
Governor Raghuram Rajan today said there is a need for some depreciation of the rupee so that we don't become uncompetitive against other economies even as the Reserve Bank continues its fight to lower inflation.
Asserting that the slide of the rupee was a good sign for India, Assocham Sunday said the country must allow the currency to depreciate to help exports remain competitive.
Dealers attributed the rupee's fall to fresh demand for the US currency from importers and banks.
In the previous week, the reserves had fallen by USD 1.902 billion to USD 351.734 billion.
Till the currency settles itself, let’s have a look at how continuous depreciation of the Indian currency will affect the common man.
The rupee depreciation against the US dollar is also helping, for the prospective home buyers from the American continent.
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