BJP govt responsible for rupee depreciation against US dollar: Selja
The former Union minister said neither Prime Minister Narendra Modi nor any BJP member is speaking up about this depreciation.
The former Union minister said neither Prime Minister Narendra Modi nor any BJP member is speaking up about this depreciation.
India’s external debt rose by $4.7 billion in the April-June quarter to touch the USD 629.1 billion mark, although the…
Afghanistan's central bank Da Afghanistan Bank (DAB) sold $14 million by auction on Sunday to stabilise the exchange rate of the national currency afghani, the bank said in a statement released here on Sunday.
According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, fell by USD 4.38 billion to USD 509.691 billion.
The Pakistani rupee (PKR) has continued a speedy crash against the US dollar with another big fall as the greenback was traded at a record high price of 276.58 PKR in the interbank market.
Forex traders said positive domestic equities, weak American dollar and foreign fund inflows also supported investor sentiments.
During the day, the local unit witnessed an intra-day high of 75.29 and a low of 75.60.
Forex traders said the rupee traded in a narrow range ahead of the release of retail inflation and factory output data.
A strengthening dollar against major currencies overseas and weak domestic equity market weighed on the local unit, forex traders said. However, softening crude oil prices restricted the rupee's fall, they added.
Forex traders said rupee is expected to trade in a narrow range as market participants will keep a close watch on the Union budget this week, that could trigger volatility in the local unit.
