A break to rupee fall

₹ vs US$

Day-by-day rupee slump hitting a fresh low against US dollar on high crude oil prices, strengthening of greenback and unabated foreign fund outflows. Forex dealers said besides strong demand for the American currency from importers, concerns over the rising fiscal deficit and capital outflows weighed on the domestic currency. “The Balance of Payments (BoP) turning negative has led to a sharp depreciation in rupee in the past two months. With steep depreciation over the past two months, the rupee is now the worst performing currency against the USD in Asia so far this year, down 13.4 percent,” global brokerage firm Nomura said in a research note. On Friday rupee recovered because of increased import duty on several electronic items and telecom equipment to rein in Current Account Deficit (CAD) and stabilize the rupee.

  • The Indian rupee impaired this week by 0.21 paisa compared with previous week close.
  • Last week Indian rupee closed at ₹73.77 with a loss of ₹1.28 only.
  • This week i.e. on Friday rupee closed at ₹73.56 with the gain of 0.56 paisa.
  • Highest gain 0.56 paisa on 12th Oct.2018 and highest fall 0.33 paisa on 09th Oct. 2018.

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