The rupee appreciated by 11 paise to close at 85.68 against the US dollar on Friday, reversing early losses after the Reserve Bank of India (RBI) delivered a surprise 50 basis point repo rate cut and announced a phased 100 basis point reduction in the cash reserve ratio (CRR).The local unit opened weak at 85.91,…
MUMBAI: The rupee extended its slide for the second straight session and declined 13 paise to hit a fresh record low of 85.87 (provisional) against the US dollar on Wednesday amid higher crude oil prices and stronger American currency. Lacklustre sentiment in domestic equity markets and sustained outflow of foreign funds also played spoilsport even…
MUMBAI: The rupee plunged to a record low on Friday, closing at 85.53 against the dollar from it’s previous close of 85.26. In Friday’s trades, it briefly touched an intraday low of 85.80 – its sharpest fall in nearly two years, Bloomberg reported.The fall in the rupee was driven by panic dollar buying from importers,…
MUMBAI: The rupee continued its slide against the dollar on Thursday, closing at a record low for the third consecutive session as it ended at 85.26 – down six paise from its previous close. It hit an all-time intraday low of 85.28 as buyers for dollars outstripped sellers in weak year-end trades.“The rupee weakened marginally…