Tuesday, March 5, 2024

Topic: Indian rupee

Indian Rupee opens at all-time low of 83.06 against US dollar

The Indian rupee on Thursday fell 6 paise to an all-time low of 83.06 against dollar in early trade amid continuous foreign capital outflows and a strong US currency in the overseas markets.

Indian rupee hits all-time low of 80 against US dollar

The Indian rupee touched another record low as foreign investors continued to sell the nation’s equities. The rupee declined to 80.06 per dollar on Tuesday.

Rupee weakens seven week low as crude hits $75 per barrel

Analysts expect that any disruption to oil supply from Libya and Venezuela will put further pressure on India’s macroeconomic situation. A $10/bbl increase in oil prices impacts India’s current account by around $15 billion or 50 bps of GDP.

Latest Reuters poll forcastes little hope for Indian rupee in the coming year

According to a recent Reuters poll, India’s battered rupee is expected to remain the same for a while, trading near recent record lows over the coming year. However, the Reserve Bank of India is forecast to raise rates in December and once more in 2019.