As concerns are growing over the delay in recovery of the economy and normalisation, the Rupee has taken a hit. From trading at a level of On Tuesday, it lost 43 paisa to a dollar, hitting a nine-month low. Data shows the Rupee has been one of the biggest losers over the last three weeks as concerns are growing over rising Covid cases and its impact on economic activity across the country.
The Rupee has been one of the weakest emerging market currencies over the last three weeks as has lost 4. In the same period, only the Turkish New Lira has lost more than the Rupee as it declined 4.
While Brazilian Real has lost 3. Thai Baht and Indonesian Rupiah have lost 2. Rising Covid numbers — over 1. As several states are now considering more stringent lockdown measures, market participants are concerned over delay in the recovery of the economy, that was hit hard in by the pandemic. Besides, the strengthening of dollar in line with expectations of better growth in the US economy, has also put pressure on the Rupee.
The gross fiscal deficit spiked from 9. These deficits faced by the GDP were balanced by burrowing foreign currency that led to drying of the foreign exchange reserves.
Another event that led to a drop in the value of the rupee falling. The interest rates set by the RBI against the fixed US-Indian currency has led to a lot of attrition for companies who are globally present. Even those countries that import a lot of resources from emerging markets were also affected by this. Care should be taken about the various policies that the government adopts, in order to expect a rise in the value of rupee against the US dollar in the coming years.
The rates of interest must be taken under control and monitored properly to prevent any further downfall in the value of rupee. The exchange rate largely depends on the inflation rate of the country.
The constant turmoil in the fall of the value of rupee against the US dollar , creates multiple issues in the economy of the country, making it a thing to worry about. The rising current account deficit, possibly due to the severe problems faced by the Euro Zone, is a notable reason why the Indian rupee is depreciating. The rising current account deficit has depleted our foreign exchange reserve and thus led to a fall in the value of the Indian Rupee.
There should be regular trade activities to safeguard the current accounts of the country, and reduce the deficits as much as possible. By doing this, the value of rupee against the US dollar will have certain chances to become better.
It all depends on the way the government would act regarding this issue and make some good decisions for the benefit. The rupee finally ended at Nifty 18, Zomato Ltd. Market Watch. ET NOW. Brand Solutions. Video series featuring innovators. ET Financial Inclusion Summit. Malaria Mukt Bharat.
Wealth Wise Series How they can help in wealth creation. Honouring Exemplary Boards. Deep Dive Into Cryptocurrency. ET Markets Conclave — Cryptocurrency. Reshape Tomorrow Tomorrow is different. Let's reshape it today. Corning Gorilla Glass TougherTogether. ET India Inc. ET Engage. ET Secure IT. Rupee rises 16 paise to Rupee slips 16 paise to Rupee recovers 12 paise to end at Rupee gains 5 paise vs US dollar after sharp drop on Monday On Monday, the rupee shed 19 paise as elevated crude oil prices prompted public sector banks to purchase the greenback on behalf of oil marketing entities, dealers said.
Rupee settles 18 paise lower at Rupee slips 14 paise to Rupee surges 0. Answering the million dollar question for exporters: To hedge or not to hedge? Rupee gains versus US dollar as global oil prices retreat from multi-year highs The rupee, which has shed close to 1.
Will RBI intervene to arrest overvalued Rupee's slide? Rupee, gilts gain as steep fall in inflation stokes optimism The rupee on Wednesday closed at Rupee takes fresh beating on oil price worries; market looks to RBI The domestic currency on Tuesday settled at Rupee slumps to month low as crude oil prices mark fresh high The rupee on Monday closed at Red flag for the unstoppable bulls comes from rupee now In the midst of all the positive factors that favour the defiant bulls, a bigger challenge for them may be emerging from the dollar bulls as the rupee is slowly weakening and staring at a breakdown point.
Rupee slumps 20 paise to close at Rupee gains vs dollar as oil prices drop, gilts steady The domestic currency on Thursday settled at Rupee inches 6 paise higher to Rupee slips 13 paise to close at Rupee recovers end stronger as exporters sell dollars; gilts fall The Indian currency had opened the day at Rupee ends lower; exporter dollar sales cushion fall The rupee on Thursday settled at Rupee falls 8 paise to close at Cross Currency History doesn't repeat itself, but it often rhymes!
What will it do for Nifty and Indian Rupee? Rupee falls 23 paise to close below level against US dollar At the interbank foreign exchange market, the local currency opened at Rupee ends 15 paise lower at Cross Currency Is long term rupee weakness evitable? Rupee slips 4 paise to close at Rupee rebounds 23 paise to close at Rupee slumps 26 paise to close at Rupee recovers 13 paise to close at Cross Currency Decoupling of forex and equity markets, rare but not impossible!
Rupee falls 18 paise to Rupee rises 6 paise to Rupee inches 2 paise higher to close at Bearish bets soften on Asian forex as US dollar eases Investors unwound their bearish bets on the Indian rupee to be slightly bullish for the first time since mid-June, with the currency appreciating 0.
Rupee inches 4 paise higher to Rupee inches 2 paise higher at
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