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.
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.
The rupee recovered by 7 paise to 64.90 against the US dollar in opening trade on Wednesday at the forex…
