RBI On Rupee

Acceptance of LUT for supplies of goods or services to countries outside India will be permissible irrespective of whether the payments are made in Indian currency or convertible foreign exchange

The only respite to the market sentiment is stimulus measures that nations are implementing to counter the economic impact from the coronavirus.

Analysts expect the renewed geopolitical worries to remain for a couple of days, lending support to the crude oil price and taking a toll on emerging market currencies, including the rupee

London has become the biggest center for trading the Indian currency, according to the latest survey by the Bank for International Settlements in September.

The rupee was at the level of 68.61 a dollar at the beginning of August and, by its end, it was at 71