Rupee at its historical lowest level, crosses 70 level
Tuesday - August 14, 2018 1:25 pm ,
Category : WTN SPECIAL
Rupee reaches 70, depreciated by 10 percent since January
AUG 14 (WTN) - The decline in rupee form several days has broken all records today. As soon as the rupee opened, it reached level 70 against the US dollar. For your information, let you know that the rupee has reached at 70 against the dollar for the first time. This year, the rupee has been dropped by ten percent so far.
As soon as the market opens, the rupee has dropped to level of 70.08. Today the rupee opens above 11 paise. Yesterday, on Monday, the rupee had reached its lowest level at 69.93. According to experts, the rupee has been declining due to turmoil in the currency prices across the world. It is being said that the Turkish crisis is responsible for all this.
For your information, let you know that since Friday, the rupee has fallen 1.09 compared to dollar. The rupee has seen improvement after showing some relief in few big economic data this morning. Apart from this, the good start of the stock markets also got support from the rupee. However, this correction of rupee was restrained due to the dollar's strength strongly against other foreign currencies.
This year, the Indian rupee has been fallen the most compared to any Asian currency. There has been a decline of about ten percent since January. According to experts, there could be more weakness in the rupee. Here, the rupee is getting weak due to the non-intervention of the RBI. At the same time, the dollar is so strong because the central bank of US can increase interest rates. That is why the rupee is falling.
According to currency traders, the latest data on retail inflation is likely to improve the domestic economy, which has seen improvement in rupee. It is believed that RBI will not raise policy interest rates in the next monetary review. For your information, let you know that retail inflation in July stood at 4.17%, which is the lowest level in the last nine months.
AUG 14 (WTN) - The decline in rupee form several days has broken all records today. As soon as the rupee opened, it reached level 70 against the US dollar. For your information, let you know that the rupee has reached at 70 against the dollar for the first time. This year, the rupee has been dropped by ten percent so far.
As soon as the market opens, the rupee has dropped to level of 70.08. Today the rupee opens above 11 paise. Yesterday, on Monday, the rupee had reached its lowest level at 69.93. According to experts, the rupee has been declining due to turmoil in the currency prices across the world. It is being said that the Turkish crisis is responsible for all this.
For your information, let you know that since Friday, the rupee has fallen 1.09 compared to dollar. The rupee has seen improvement after showing some relief in few big economic data this morning. Apart from this, the good start of the stock markets also got support from the rupee. However, this correction of rupee was restrained due to the dollar's strength strongly against other foreign currencies.
This year, the Indian rupee has been fallen the most compared to any Asian currency. There has been a decline of about ten percent since January. According to experts, there could be more weakness in the rupee. Here, the rupee is getting weak due to the non-intervention of the RBI. At the same time, the dollar is so strong because the central bank of US can increase interest rates. That is why the rupee is falling.
According to currency traders, the latest data on retail inflation is likely to improve the domestic economy, which has seen improvement in rupee. It is believed that RBI will not raise policy interest rates in the next monetary review. For your information, let you know that retail inflation in July stood at 4.17%, which is the lowest level in the last nine months.
