Latest News
-
Rs 7.50/Share Dividend: Adani Group Cement Company Reports Strong Q4 Results; Profit Surges 2x YoY -
Closing Bell: Market Rebounds To End With Gains For 5th Straight Day; Sensex & Nifty Soar Led By Banks -
Gold Prices Ayodhya: In Ram-Janma-Bhumi, 24carat Falls By Rs 380 In 10-Grams, Drops By Rs 3,800 In 100-gram -
Penny Stock Hits 2nd Upper Circuit After Declaring Earnings, Gains 14% In 1-Week -
Rs 8.50/Share Dividend Recommended: Nestle India Reports 27% YoY Jump In Profit -
0.50% Dividend Yield: Midcap Cement Stock Slumps 10% Following Weak Q4 Results; Profit Down 48% YoY -
1:10 Split, Rs 147/Share Dividend: FMCG Major Likely To Report Profit Growth; Buy Or Sell? -
Mark Zuckerberg's Meta Reports Record Q1 Profit Surge, Projects AI Investments This Year; Stock Slumps -
Gold Prices India: 24K/100 Grams Yellow Metal Falls By Rs 3800, 24K/10 Grams Down By Rs 380 -
Rs 44,000 Crore M-Cap Lost, Stock Falls 10%, No More 4th Largest Bank; How RBI's Ban Rocked Kotak
For Daily Alerts
Rupee hits a fresh historic low again
INR 
| 83.319 |  | United States Dollar |
On Wednesday, the partially convertible rupee plunged to its historic low. Allaying fears that the Finance Ministry said there was no need to panic. "Rupee is falling due to global factors. There is no need to panic. The fall might continue till there is a certainty about the eurozone recovery. RBI is keeping a watch on it," a finance ministry official said, reports PTI.
According to dealers RBI intervened at many intervals but in vain. However, RBI Deputy Governor K C Chakrabarty said the RBI intervention in the forex market was only to curb volatility and not the slide.
"We don't intervene to arrest the rupee fall, we intervene only to arrest the volatility, you must understand the difference," he said.
GoodReturns.in
Story first published: Thursday, May 17, 2012, 15:26 [IST]
More From GoodReturns
