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 gained another 14 paise to trade at a two-week high of 63.95 against the US dollar in opening…
The rupee strengthened by 19 paise to 64.13 against the US dollar in opening trade on Wednesday aided by stronger…
The rupee depreciated 10 paise to 64.38 against the US dollar in opening trade on Thursday due to increased demand…
The rupee strengthened by 20 paise to 64.04 against the dollar at the interbank forex market on Wednesday on fresh…
The rupee depreciated by 16 paise to 64.22 against the US dollar in early trade at the interbank forex market…
