A rupee nearing Rs 96 against the US dollar is more than just a market number. For an Indian family planning a foreign holiday, paying a child’s college fees abroad or buying imported products, every fall in the rupee can mean spending more money. To understand it simply: when $1 costs Rs 83, buying $5,000.
The Indian rupee appreciated sharply against the US dollar on Friday after the Reserve Bank of India eased investment norms for foreign portfolio investors (FPIs) and announced measures aimed at improving capital flows, boosting investor sentiment
Washington: A bipartisan group of US senators has reintroduced a resolution supporting the US dollar’s role as the world’s primary reserve currency, arguing that China is intensifying efforts to build a rival global financial system centred around the yuan. The resolution was introduced by Ted Budd and Jeanne Shaheen. The lawmakers said Beijing’s financial strategy.
New Delhi: Gold and silver prices posted strong gains on Friday, amid rise in the United States–Iran tensions and marginal decline in US dollar. MCX gold April futures gained 0.43 per cent to Rs 1,60,399 per 10 grams around 12.30 am on an intra-day basis. Meanwhile, MCX silver March futures gained 3.05 per cent to.
The rupee fell to a record low on Monday, hitting an intra-day low of 90.80 before closing at 90.74 (provisional) against the U.S. dollar, down 25 paise.
The Indian rupee slipped to a new record low of 90.20 per US dollar today, down from Tuesday’s close of 89.96, reflecting renewed pressure on the currency.
The dollar maintained its gains following a significant trade pact between the US and China. The US will reduce tariffs on Chinese goods from 145 per cent to 30 per cent for 90 days, while China said it will cut tariffs on US goods from 125 per cent to 10 per cent for 90 days.
