Rupee historic low News
Yesterday, Rupee breached 73 mark against the dollar for the first time ever.
Rupee breached 73 mark against the dollar for the first time ever in opening deals today.
Let’s have a look at how continuous depreciation of the Indian currency will affect the common man.
The benchmark 10-year bond yield was up 6 basis points at 8.05 percent.
IMF has warned that the rupee depreciation would jack up the prices of imported goods.
The rupee breached the historic low of 72 level this week, marking year-to-date losses of more than 13 percent.
The government has so far maintained that it would not take any knee-jerk action as a response to the fall in rupee or spike in fuel prices.
The meeting comes in the backdrop of the Indian currency touching its lifetime low.
Rupee rebound also helped market sentiments.
Surging crude oil prices, uanabated foreign fund outflows and escalating trade war concerns kept the rupee under pressure.
Surging crude oil prices, uanabated foreign fund outflows and escalating trade war concerns kept the rupee under pressure.
The Indian rupee has depreciated 13 percent so far in 2018.
The RBI has been selling dollars to arrest declining rupee, which led to decline in forex reserves from USD 426 billion in April to USD 400.10 billion at the end of August.
The RBI has increased the key lending rate twice in the recent past on inflationary concerns.
Fears of escalation of global trade war continues to weigh on the rupee.
Rupee last week crashed below the 72-level for the first time ever.
Rupee continued its free fall hitting a new low of 72.67 at 12.30 pm due to a strengthening dollar and widening trade deficit.
The Indian rupee has depreciated 13 percent so far in 2018 and has touched a historic low of Rs 72.32 to a dollar.
The rupee has been under immense pressure due to a host of reasons including soaring crude oil prices.
Forex market was shut yesterday on account of Bakri Id.
Loading...