Under Pressure
As the Indian rupee reached a record low of 87.58 to the dollar on Thursday, it finds itself at a critical juncture, navigating a sea of global and domestic pressures.
As the Indian rupee reached a record low of 87.58 to the dollar on Thursday, it finds itself at a critical juncture, navigating a sea of global and domestic pressures.
Notably, the rupee dropped to 85.0650 against the US dollar in early trade, compared to 84.9525 on Wednesday.
The Indian rupee’s surge to a two-month high on Thursday signals a broader shift in the global economic landscape, influenced not just by domestic factors but by international dynamics as well.
The minister said that a stable economy will propel India to become one of the top 3 economies in the world.
It is not just Western sanctions on Russia that accelerated the trend to circumvent the dollar, but the strength of the currency in the past year has also posed a challenge.
The appeal was made following the observation of a 53 per cent jump in imports of readymade garments from Bangladesh, ITF Convenor, Prabhu Dhamodaran said in a statement here.
On Monday, the Sensex jumped by a healthy 1421.90 points, closing at 39,352.67, while the Nifty advanced by a massive 421.10 points to 11,828.25, its largest gain since 2008.
Most exit polls conducted by different organisations have given the BJP-led NDA full majority, even as opposition parties are dismissing these predictions.
The rupee rose to a two-week high of 69.36 against the US dollar, as compared to its Friday’s close of 70.23.
Meanwhile, the United States, President Donald Trump on Sunday accused China of breaking the negotiated trade deal draft and indicated toughening of his stand against China in a series of tweets.
