Rupee Surge
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 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.
According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, fell by USD 4.38 billion to USD 509.691 billion.
The rupee inched higher by 9 paise to 64.95 against the US dollar in opening trade on Tuesday on better-than-expected…
The rupee strengthened by 23 paise to 64.94 against the US dollar at the interbank forex market on Monday on…
The rupee was trading lower by 2 paise at 64.91 against the dollar in opening trade on Thursday as the…
The rupee depreciated 4 paise to 64.83 against the US dollar in opening trade on Tuesday at the forex market…
The rupee strengthened by 6 paise to 64.67 against the dollar at the forex market on Monday on fresh selling…
