Pakistani rupee (PKR) reached a new low against the US dollar on Tuesday, closing at Rs 232.93 in the interbank market
RBI's interventions and a less hawkish view on US Federal Reserve among factors that help currency
The Indian rupee weakened slightly against the dollar on Tuesday, while bond yields were little changed, as investors awaited the outcome of the US Federal Reserve's policy meeting
The discussions were held ahead of the RBI's next monetary policy statement, scheduled August 5
The rupee appreciated 14 paise to close at 79.76 (provisional) against the US dollar on Monday tracking strong regional peers and soft greenback.
Global oil benchmark Brent crude futures fell 0.54 per cent to USD 102.62 per barrel
The survey noted that 52 per cent expect health care and medicines costs to escalate
Indian rupee may further depreciate to 82 to a dollar in the near term due to widening of trade deficit and expected aggressive rate hike by the US Fed later this week to tame record high inflation
He added that unlike earlier crises, the depreciation of the rupee against the US dollar was lower than other major global currencies such as the Swiss Franc, the Euro, the British pound and the Yen
Foreign exchange reserves depleted around $70 billion from its peak in September 2021
The rupee on July 21 hit a low of 80.06 per dollar in intraday trade but it bounced back to close at 79.99
The rupee settled on a flat note on Friday as gains from positive domestic equities and fresh foreign inflows were negated by strong demand for the American currency in the overseas market.
The rupee depreciated 7 paise to 79.92 against the US dollar in opening trade on Friday tracking the strength of the dollar in the overseas market and firm crude oil prices
Reserve Bank Governor Shaktikanta Das on Friday said the rupee is holding up relatively well when compared to the currencies of emerging market peers and advanced economies.
The rupee recovered from its all-time low of 80.06 to close 20 paise higher at 79.85 (provisional) against the US dollar following overall weakness in oil prices and fresh foreign fund inflows.
Rupee, which has plumbed the 80-level against the US dollar, is unlikely to get any tailwind this fiscal and may fall further in the medium term due to higher crude prices and imports, says a report.
Bilateral exchange rates show a trend different from that against dollar
The nation's firms had $79 billion of unhedged offshore loans at the end of March, about 44% of their total overseas borrowings, according to the latest data from the Reserve Bank of India
The rupee depreciated 1 paisa to its all-time low of 80.06 against the US dollar in opening trade on Thursday amid demand for dollar from oil importers and firm crude oil prices