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 African Development Bank (AfDB) released about 511 million US dollars to finance four government programmes in Niger, an AfDB official said Sunday.
The Indian rupee’s stability, despite external pressures from weak Asian currencies and rising US bond yields, highlights a nuanced approach by the Reserve Bank of India (RBI) in managing the currency.
The Indian rupee’s slide to a record low against the US dollar underscores the complex interplay of domestic and global economic factors that influence currency valuation.
The former Union minister said neither Prime Minister Narendra Modi nor any BJP member is speaking up about this depreciation.
Forex traders said positive domestic equities, foreign fund inflows and hopes of a COVID-19 vaccine supported the rupee.
During the session, the rupee witnessed an intra-day high of 74.98 and a low of 75.25 against the US dollar.
It opened lower at 75.23 per dollar against previous close of 75.14 and traded in the range of 75.15-75.29.
It had settled at 74.93 against the US dollar on Tuesday.
The domestic unit finally closed at 74.68 against the US dollar, down 2 paise over its previous close of 74.66 on Friday.
