The rupee hit a one month low and breached the 61 levels for the first time since March 21, 2014. The rupee was last trading at 61.01, down 25 paise over Tuesday's close.
Today's fall was largely on account of demand from oil importers and a general weakness seen across other currencies against the dollar.
Dollar inflows from foreign funds also seems to have tapered off. In fact, foreign funds have made sizeable purchases in the Indian equity markets on hopes of a Narendra Modi led government being formed.
There is unlikely to be an intervention by the Reserve Bank of India in the currency market as the central bank is likely to be content at the current levels to help exporters. A sharp appreciation in the currency has already taken place in the last few months, which should not help exporters too much. Check currency rates here
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