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 Reserve Bank of India on Wednesday fixed the reference rate of the rupee at 68.2139 against the US dollar…
At the advent of the new economic policy and globalisation in 1991, the traded at 17.5 to the US dollar.…
The rupee strengthened by 12 paise to 67.21 against the dollar in early trade today on fresh selling of the US currency by exporters and banks amid higher opening in the domestic equity market.
The rupee firmed by 13 paise to 66.53 against the dollar in early trade on Thursday increased selling of the…
Extending its losing run for the sixth straight session, the rupee on Monday plummeted by a staggering 36 paise to hit a fresh 13-month low of 66.48 against the US dollar as rising crude prices and sustained foreign fund outflows led to subdued forex market sentiment.
