As the Gulf war simmers, will moves towards de-dollarisation succeed?
Today, while the dollar still reigns supreme, there are other options. Some 22 countries officially trade part of whatever they buy or sell to India in rupees.
Today, while the dollar still reigns supreme, there are other options. Some 22 countries officially trade part of whatever they buy or sell to India in rupees.
Analysts believe that if the Iran-US war in West Asia continues, the run away from emerging market bourses to the safe haven of the US dollar will continue, and the rupee could well touch Rs 95 to the dollar by the end of the month.
Forex traders said the dollar strengthening against major global currencies overseas and fall in domestic equities dragged down the local unit, while falling crude oil prices capped rupee's losses
The RBI governor has maintained that depreciation in rupee has been moderate compared to emerging market peers.
As India starves for dollars, the stranglehold of external forces over India tightens. Is it any surprise that the rupee moved from 58 to 73 a dollar in the last four years?
Jaitley says external factors like US policies, trade war, and crude oil prices are impacting economies like India
Gold rallied by Rs 110 to Rs 31,510 per ten gram at the bullion market on Thursday, largely in sync with the overseas trend and increased buying by local jewellers.
Falls 21 paise in late morning deals; trading on a volatile note, moving between a wide range of 71.40 and 71.79 against a USD
Continuing its free fall for the fourth straight session, the Indian rupee yesterday hit a record closing low of 68.79, showing a fall of 18 paise against the US dollar.
