Currency

In the closing market trend, Rupee rose by 23 paise at 79.72 against the US Dollar, on September 8. It witnessed an intra-day high of 79.65 and a low of 79.83 during the session. Furthermore, dollar index, which measures the greenback's strength against a basket of six currencies, fell 0.11% to 109.72.  In addition, the global oil benchmark, fell 0.60% to USD 87.47 per barrel.

RBI has expressed positivity towards introducing a graded approach to adopt Central Bank Digital Currency (CBDC). It stated that the CBDC will be introduced in conformity with the objectives of the monetary policy, financial stability and efficient operations of currency and payments systems. Currently, the RBI is reportedly studying the design elements of CBDC after evaluating the pros and cons of introducing such a thing in India.

The Pakistani currency is expected to have continuous fall against the US dollar due to high inflation in the nation. The rupee remained unstable due to wide trade deficit caused by global oil prices imports. Depreciated by 0.69% during the week, the Pakistani rupee closed at low record of 177.71 against the dollar, on December 10. Besides, the local unit lost Rs 25.72 against USD in the past seven months.

Maharashtra police said a 66-year-old woman was duped of Rs 11.45 lakh by some unidentified individuals on the pretext of exchanging her old coins and currency notes in Maharashtra's Thane. Reportedly, the perpetrators, who're on the run, contacted her on social media and offered Rs 45 lakh in exchange after transferring the amount. She filed a complaint against them on October 2 when she didn't get the requested amount.

The coronavirus can stay active on smooth surfaces such as glass, bank notes, phone screens for over 28 days, according to a study by Australian Centre for Disease Preparedness. The study revealed that this period could reduce to less than a day at high temperatures, over 40 degree Celsius. Reportedly, the virus is active on smooth surfaces for a longer period, when compared to complex surfaces such as cotton.