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 Reserve Bank of India on Thursday fixed the reference rate of the rupee at 63.3914 against the US dollar…
The rupee weakened by 8 paise to trade at 63.61 against the US dollar in opening session on Thursday due…
The rupee edged higher by five paise to trade at 63.82 against the US dollar on the first trading day…
The rupee edged up 3 paise to 64.02 against the dollar on Tuesday as the US currency lost some muscle…
The rupee rose 10 paise to 64.01 against the dollar on Thursday as the US Congress gave its final seal…
