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Rupee Falls 30 Paise To 77.55 Against US Dollar, New Low For Second Time In A Week
The Indian rupee fell 30 paise to an all-time low of 77.55 versus the US dollar in early trading on May 12 following a larger loss in Asian currencies and a disappointing performance in domestic equities markets. For the second time this week, the rupee has hit a new low. The rupee was trading at 77.25 against the dollar in the previous session.
Tags: Indian Rupee, US Dollar, Currency, Foreign Exchange
Courtesy: NDTV
Photo: Hranker.com
Defence Ministry Bans Over 2,500 Import Items To Save Rs 3,000 Crore Annually
In light of the "Aatmanirbhar Bharat" campaign, the Union Government has banned over 2,500 import items. On December 29, the Union Defence Ministery, submitted a list and said, the initiative will save Rs 3,000 crore, annually. "The items will only procured from Indian industry after timelines indicated in the list," said Ministry. Moreover, the details of the listed items are available on… read-more
Tags: Union Defence Ministry, Union government, Import Items, Foreign Exchange, National defence
Courtesy: United News Of India
Photo: Business Standard
India Clocks World's 4th Largest FOREX Reserve; Surpasses Russia
After what seemed like a stagnant foreign exchange reserve for India and Russia, India's foreign exchange reserve rose to the world's fourth-largest leaving Russia behind in recent weeks. Reportedly, rising inflows into the local stock market and foreign direct investments have made India’s reserves enough for almost 18 months of imports. While China holds the largest reserves, it is followed by Japan and Switzerland.
Tags: Russia, India, Foreign Investments, Foreign Exchange
Courtesy: Mint
