Rupee falls to fresh 1-month low, down 42 paise against dollar

[AZADPAKISTAN2009]

Rupee falls to fresh 1-month low, down 42 paise against dollar
The rupee declined by 42 paise to hit a fresh 1-month low of 67.54 per dollar in early trade today due to appreciation of the American currency overseas and outflows of foreign fund.
Besides, weakness in the domestic stock market weighed on the rupee at the Interbank Foreign Exchange market.

Forex dealers said increased demand for the US currency from importers and its gains against other currencies overseas put pressure on the rupee.

Yesterday, the domestic unit had ended lower by 20 paise to 67.12 as revival in global crude prices renewed India's concerns on the fiscal front.



http://www.newindianexpress.com/bus...low-down-42-paise-against-dollar-1825357.html


Quite a massive dive 42 cents in one day very big move

 

[Karna_007]

Rupee falls to fresh 1-month low, down 42 paise against dollar
The rupee declined by 42 paise to hit a fresh 1-month low of 67.54 per dollar in early trade today due to appreciation of the American currency overseas and outflows of foreign fund.
Besides, weakness in the domestic stock market weighed on the rupee at the Interbank Foreign Exchange market.

Forex dealers said increased demand for the US currency from importers and its gains against other currencies overseas put pressure on the rupee.

Yesterday, the domestic unit had ended lower by 20 paise to 67.12 as revival in global crude prices renewed India's concerns on the fiscal front.



http://www.newindianexpress.com/bus...low-down-42-paise-against-dollar-1825357.html


Quite a massive dive 42 cents in one day very big move

Remittance inflows improved in all regions and the top remittance recipients were India with $69 billion, followed by China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion).

http://www.worldbank.org/en/news/pr...es-to-low-and-middle-income-countries-in-2017

Remittance figure of India in 2018 most probably be 75 billion dollar...

 

[Vanamali]

Remittance inflows improved in all regions and the top remittance recipients were India with $69 billion, followed by China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion).

http://www.worldbank.org/en/news/pr...es-to-low-and-middle-income-countries-in-2017

Remittance figure of India in 2018 most probably be 75 billion dollar...

Unfortunately Indian Rupee can't beat Pakistan in depreciation against Pakistan Rupee. You are clear winner. Jai Ho and Saho re Pakistan

 

[seesonic]

Unfortunately Indian Rupee can't beat Pakistan in depreciation against Pakistan Rupee. You are clear winner. Jai Ho and Saho re Pakistan

Why compare Pak?

Shouldnt India be comparing with China

 

[AyanRay]

Why compare Pak?

Shouldnt India be comparing with China

No, we cannot. INR derives its value from market forces while value Chinese Yuan is state controlled.

 

[seesonic]

No, we cannot. INR derives its value from market forces while value Chinese Yuan is state controlled.

That is a nice way to say India government has no control over its depreciating currency causing massive inflation

 

[AZADPAKISTAN2009]

I starting to get worried about Indian rupee falling may be china should apply for help as the crisis can get out of hand if it falls to 80 rupees level at this rate

 

[raj76]

I starting to get worried about Indian rupee falling may be china should apply for help as the crisis can get out of hand if it falls to 80 rupees level at this rate

https://www.dawn.com/news/1413567/rupee-falls-for-fourth-time-in-one-year

 

[AZADPAKISTAN2009]

if India needs money Nawaz sharif can buy more sugar or onion
I heard he like Timatar

 

[abc123xyx]

india need dollors for import bill of oil....thats where falling rupee hurt...
but...
india start importing oil from iran in rupee...

india exports softwear and medicines....this is where dollor appriciation actuall improve profitability....

if India needs money Nawaz sharif can buy more sugar or onion
I heard he like Timatar

he bought all that for his own family....