Latest News
-
Rs 14/Share Dividend: Stockbroking Co To Consider Bonus Share, Shares Up 126% In 180-Days -
Varyaa Creations IPO Set To Shine: Boasts Robust GMP Of Rs 100 -
BEL, HAL, Cochin, Mazagon Dock: Why Defence Stocks Are Flying High When Middle East Is In Kaboom? -
FII-Backed Penny Stock Issues New Update On Warrants, Shares Gain 111% In 3-Yrs -
Top 5 Bank Savings Accounts With No Hidden Charges; Check Details? -
150% Gains In 12 Months: This Multibagger Telecom Stock Hits 52-Week High; IIFL Finance Recommends BUY! -
Singapore Orders Recall Of Everest Fish Curry Masala Over Pesticide -
China's Sinking Cities: Researchers Warn Of A Looming Threat, Say Half Of Major Cities Are Drowning -
Inox Wind Secures Repeat 210 MW Order From Hero Future Energies -
100 Grams Of 22K Gold Dearer By Rs 5000 In India: Check Yellow Metal Prices After Latest Rise
Rupee hits one month low of 60.70 against dollar
| 83.518 |  | United States Dollar |
Dealers say that dollar demand from importers pushed the rupee lower in trade today. Also, there has not been major dollar inflow from FIIs, following huge capital inflows in early April and March.
Also, it's believed that the central bank may not be willing to let the rupee appreciate too much against the dollar, as the same could hurt export growth. On every appreciation in the currency, the RBI may step in and buy dollars, which also gives it an opportunity to shore up its reserves.
From being one of the most vulnerable emerging market currencies, the rupee has gained significant ground against the dollar after a host of measures from the government and the RBI. Analysts feel that it would be improbable that the rupee would once near its historic low of 68.81 as the fundamentals, including the current account deficit, have shown a remarkable improvement in India. Check currency rates here
GoodReturns.in
