85 breached
The Indian rupee has breached the significant psychological barrier of 85 against the US dollar, marking an all-time low amid a confluence of domestic and global pressures.
The Indian rupee has breached the significant psychological barrier of 85 against the US dollar, marking an all-time low amid a confluence of domestic and global pressures.
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
In a significant move to support the agricultural sector and address rising input costs, the Reserve Bank of India has announced an increase in the limit for collateral-free agricultural loans, including loans for allied activities.
India's forex reserves dropped by USD 3.235 billion to USD 654.857 billion for the week ending December 6.
Mumbai Police promptly registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and began an investigation.
Dr. Rumki Majumdar from Deloitte India said that India’s economy is emerging with resilience as the dust settles after a high-stakes elections period.
The global economy remained resilient in the first half of 2024, with declining inflation supporting household spending, it said in its October Bulletin.
The forex had hit an all-time high of $704.885 billion at the end of September.
The recent drop of the Indian rupee below the 84- per-dollar mark highlights a growing set of economic challenges for India, largely driven by external factors such as rising oil prices and the withdrawal of foreign investments from the equity market.
The Reserve Bank of India’s (RBI) recent decision to maintain the key interest rate at 6.50 per cent while shifting its policy stance to “neutral” represents a strategic recalibration in its approach to balancing inflation control and economic growth.
