India would be failing in its duty to its future migrants if it does not do anything to de-market unrealistic aspirations and impossible dreams
The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but settled on a flat note at 87.50 (provisional) on suspected RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interbank foreign exchange, the rupee opened at 87.94 and touched an all-time intraday low of 87.95 against the American currency during the session. The local unit, however, pared the initial losses and finally settled on a flat note at 87.50 (provisional), unchanged over its previous close. On Friday, the rupee recovered 9 paise from its all-time low level to close at 87.50 against the US dollar. The rupee .
Parliamentary Affairs Minister Kiren Rijiju said that Kharge had alleged that lakhs of farmers died citing NCRB data and said the Leader of Opposition should substantiate his claims.
The government aims to conduct a switch target of 2.50 trillion rupees in the next financial year, but there is no specific amount earmarked for buybacks
The dollar/rupee forward premiums, meanwhile, extended declines this week, as the Reserve Bank of India conducted buy/sell swaps alongside its spot intervention
The Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar sales to avoid further depreciation of the rupee
More changes likely in liquidity management framework
A narrowing trade deficit in December, down to $21.94 billion down from a record $31.86 billion in November, further bolstered market sentiment
RBI's intervention policy unlikely to have changed
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.39 per cent lower at 109.38
The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar on Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president on January 20. At the interbank foreign exchange, the rupee opened at 85.88, hit the intra-day peak of 85.85 before settling at the lowest-ever level of 86.00 (provisional) against the greenback, 14 paise lower from its previous close. On Thursday, the rupee gained 5 paise to settle at 85.86 against the US dollar, recovering from the steep decline of 17 paise in the preceding session. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said t
In the last three months, the rupee has depreciated 2.2 per cent against the dollar, which typically hurts consumer durable companies.
The local currency settled at Rs 85.78 per dollar on Friday
The rupee has been hovering above Rs 85 mark vis-a-vis the US dollar in the recent past
The rupee may touch the 86-per-dollar mark in the short term, said Jigar Trivedi, a senior analyst at Reliance Securities, who recommends buying the dollar-rupee pair on every dip
Despite the decline, India's foreign exchange reserves remain the fourth largest in the world
Despite last week's slump, the rupee has fared better than most of its Asian peers over the December quarter
Weakens below 85.8 intraday, RBI does rescue act
The local currency had settled at Rs 85.20 per dollar on Wednesday
The RBI's frequent interventions have supported the rupee in the face of multiple headwinds, including a hawkish shift in the Federal Reserve's outlook for policy rates over 2025, concerns about India