Reserve Bank of India recently surprised by keeping its policy unchanged and said it was not targeting any currency level
Traders said RBI's decision to inject Rs 120 bn liquidity into the system through the purchase of govt bonds on Oct 11 supported the recovery in the rupee
Analysts see muted July-September profits for Nifty companies
The RBI has for long maintained that it steps in only to curb undue volatility and doesn't target any currency level
The domestic unit fell 33 paise on Tuesday to finish at a fresh lifetime low of 74.39 against on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows.
Forex dealers said besides strong demand for the American currency from importers, concerns over rising fiscal deficit and capital outflows weighed on the domestic currency
Brent crude breached the $84 a barrel-mark again and the American currency strengthened overseas
Indian companies went on a borrowing spree abroad in the past few years, when the local currency was stronger
The domestic unit on Monday slumped 30 paise to finish at a fresh lifetime low of 74.06 amid strengthening of the greenback and steady capital outflows.
The US dollar's strength against major global currencies weighed on the rupee sentiment
Forex dealers said the dollar's strength against major global currencies weighed on the rupee sentiment
The rupee has lost nearly 14 per cent so far this year
Who gains, who loses from the rupee tumble?
However, the announcement came after the market closure, after the rupee witnessed a sharp decline on news that the central bank had refused to open a dollar-swap facility for the OMCs
The rupee hit an all-time low of 73.41 a dollar in early trade on Wednesday, and sharply lower than its previous close of 72.93
The infrastructure projects worth building are those that pay for themselves in the long run
India's bond yields dropped sharply on Monday to their lowest in more than a month as investors took in the news
Ongoing global trade war concerns and surging global crude prices caused some discomfort for the rupee and restricted the gains
In August, RBI had hiked its key lending rate by 25 basis points to bring the repo to 6.50%
Import duty raised on 19 items from jet fuel to jewellery