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.
The 30-share BSE benchmark Sensex was trading 343.30 points higher at 34,551.35 and broader NSE Nifty rose 105.30 points to 10,196.95.
During the four-hour trading session, the domestic unit witnessed an intra-day high of 76.10 and a low of 76.25.
The rupee opened strong at 75.89 against the US dollar, then gained further ground and touched 75.84 against the US dollar.
Forex traders said risk appetite has waned amid fresh cases of COVID-19 globally.
During the four-hour trading session, the rupee touched an intra-day high of 75.72 and a low of 75.88.
