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 recovered by 17 paise to 64.87 against the dollar in early trade on Friday on mild selling of…
The rupee weakened by 30 paise to trade at a three-month low of 65.06 against the US dollar in opening…
Extending its losses for the third session, the rupee weakened by 8 paise to trade at fresh 3-month low of…
The rupee depreciated 31 paise to 64.52 against the US dollar in opening trade at the interbank forex market on…
The rupee firmed 6 paise at 63.85 against the dollar in opening trade on Friday, maintaining its upward trend for…
