India closely monitoring rupee slide: Piyush Goyal
Piyush Goyal said all arms of the government are functioning in coordination to deal with the situation.
Piyush Goyal said all arms of the government are functioning in coordination to deal with the situation.
On Wednesday, the rupee came down to an all-time low of 95.80 against the US dollar, and later settled at 95.66 against the greenback.
The rupee had settled at 94.84 against the American currency on Thursday.
On Thursday, Sensex came down by 821.79 points to 76,674.57 in early trade, while the Nifty dived 287.3 points to 23,890.35.
At close, the Sensex was down 270.84 points or 0.33% at 81,909.63, and the Nifty was down 75 points or 0.30% at 25,157.50.
At the close, the Sensex was down 376.28 points, or 0.44 per cent, at 85,063.34, while the Nifty slipped 71.60 points, or 0.27 per cent, to end at 26,178.70.
"Dollar Distancing is finally happening and it is time for India to pitch Rupee as a credible, secular alternative in the changing world order?" SBI Research questioned in its report.
At the interbank foreign exchange market, the domestic currency opened at 74.21 against the American currency and slipped further to close at 74.26, registering a decline of 11 paise over its previous close.
