Tag: Rupee

However at the same time, he cautioned that the main challenge would be to ensure that the rupee remains competitive, as there is a natural tendency for the Indian currency to appreciate.

The Nominal Effective Exchange Rate (NEER) of the US dollar (27 economies) appreciated by 7.8 per cent in the calendar year 2022, up to December, while the NEER of India (64 economies) depreciated by 4.8 per cent, the Survey said.

The rupee incidentally had touched a historic low of 83.18 earlier this week, even as Sitharaman said that she saw it more as a case of the dollar strengthening than the rupee falling.

The rupee on Wednesday hit a new low of 82.95 against the US dollar on anticipation of more rate hikes by major central banks across the globe to curb rising inflation.

The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.28 per cent to 111.412.

The Indian rupee fell sharply on Monday and touched the 80 mark against the US dollar after the Federal Reserve chair Jerome Powell's hawkish speech.

The Brent crude oil prices in the international market has risen sharply and at the close of Indian market hours, it was $98.39 a barrel, up 1.02 per cent.

At the interbank foreign exchange market, the Indian currency ended at 79.02, as against 79.25 closed on the previous trading session. The rupee has touched a high of 79.00 and low of 79.22 before ending at 79.02.

Days after the domestic currency breached the 80-level against the dollar, Das said Reserve Bank of India (RBI) has zero tolerance for volatile and bumpy movement in the rupee and added that the central bank actions have helped in smoother movement.

The Rs 79.25 mark will act as resistance for rupee and break above Rs 79.25 will trigger short covering for rupee.

The rupee fell 14 paise to 77.69 per US dollar.

Rupee too took a breather as it has appreciated from its all-time low of 77.42 the previous day to 77.25 this morning.

At the interbank foreign exchange, the rupee opened at 77.17 against the American dollar, then lost ground to quote at 77.42, registering a fall of 52 paise from the last close.

Mumbai: The Sensex and Nifty opened on a flat note on Friday as the key banking and finance stocks traded lower. The Sensex of the BSE opened at 35,906.01 from its previous close at 35,898.35 on Thursday. At 9.18 a.m., the Sensex traded at 35,864.63 lower by 33.72 points or 0.09 per cent. The Nifty […]

Mumbai: The Sensex on Friday opened 50 points higher while the Nifty reclaimed the 10,900 mark following gains in the other Asian markets. Third quarter earning outcomes from index heavyweights such as Maruti Suzuki and Larsen and Toubro (L&T), is expected later in the day. All the sectors or BSE and NSE gained. The Sensex […]