Rupee falls to all-time low against US dollar
Notably, the rupee dropped to 85.0650 against the US dollar in early trade, compared to 84.9525 on Wednesday.
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.
With the Reserve Bank of India's Inter-Departmental Group having expressed the view that the rupee possesses the potential of evolving into a global currency in the wake of India's resilient economic growth amid global challenges, the potential of such a development is significant for India's economic growth and international standing.
The rupee on Wednesday breached the 73-mark against the US dollar for the first time ever on strong demand for the American currency from importers.
Sensex fell 465.63 points or 1.29 percent to 35,510 on the back of crude oil prices hitting multi-year highs and rupee touching record lows.
Identifying accommodating universities and countries is currently the key to successfully studying and eventually getting placed overseas.
Concerns about new US tariffs on China weighed on the mood after Beijing walked away from trade talks with the US, stocking trade war escalation fears.
Amidst several parameters going askew for the Indian economy, two ~ its current account deficit and its sliding rupee ~…
