The Indian rupee continued to weaken today on fresh demad for dollars, dropping 15 paise, to trade at 55.80 to the dollar at 9.55 am IST.
The currency is now headed for the 56 levels, unless the Reserve Bank of India decides to intrevene. After a steady trend witnessed in the last few weeks, the rupee is showing signs of breaking down and going below the 56 levels.
Bulk of the dollar demand comes from oil importers, which exerts pressure on the Indian rupee dragging it lower. Over the past few trading sessions crude oil has surged making it more costlier for oil marketing companies and hence more demand for the dollar.
Crude oil is unlikely to dip in the near term adding to pressure on the Indian currency.
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google