Under Strain
The rupee drifting beyond the 90-per-dollar mark is not merely another data point in the market’s daily churn.
The rupee drifting beyond the 90-per-dollar mark is not merely another data point in the market’s daily churn.
Indian businesses and Firms would do well to reinvigorate the “Made In India” as a hallmark of unquestionable Quality, the report suggested.
Wall Street pundits and investors are schizophrenic about the dollar. The dollar weakened after Moody’s cut the US credit rating by one notch from Aaa (the highest rating — to Aa1, attributing the downgrade to the increasing fiscal deficit, as well as the rising interest rate costs on Federal government debt.
As the Indian rupee reached a record low of 87.58 to the dollar on Thursday, it finds itself at a critical juncture, navigating a sea of global and domestic pressures.
The latest statement by US President-elect Donald Trump demanding that Brics nations pledge not to create or support a new currency to challenge the American dollar reflects growing apprehension about dedollarisation.
The Indian unit traded between 68.31 and 68.43 on sustained selling of the US dollar by banks during morning deals
The Reserve Bank of India (RBI), however, will not be comfortable with the currency touching 70 .
The US dollar was steady against its peers in early Asian trade, having failed to extend overnight gains amid uncertainty over Chinese investments in the US
The rupee firmed up by 19 paise to 67.79 against the dollar today after increased selling of the US currency by exporters and banks.
The rupee recovered by 7 paise to 64.90 against the US dollar in opening trade on Wednesday at the forex…
