Indian Currency

Singer Mika Singh shared a proud moment and congratulated PM Narendra Modi, as he could use Indian currency in UAE. "Good morning. I felt so proud to be able to use Indian rupees whilst shopping at #Dohaairport in the @LouisVuitton store. You can even use rupees in any restaurant.. Isn't that wonderful? A massive salute to @narendramodi saab for enabling us to use our money like dollars," tweeted Mika.

In closing the market, the rupee fell by 49 paise, to 81.89 against the US dollar. The fall in INR put selling pressure on the domestic equities and a spike in crude oil prices, on October 3. Moreover, a stronger greenback against key rivals and persistent foreign fund outflows impacted the domestic currency.  The constant fall of rupee against USD, close at 82-mark, raises concern for RBI and traders.

The Indian rupee hit a new record low, on June 23 as it closed all-time-low of 78.32 (provisional) against the US dollar.  At the interbank foreign exchange market, the local currency opened at 78.26 and finally settled at its all-time low 78.32, remaining unchanged from the previous day's close.  Also, the crude oil benchmark declined 0.99% to $110.63 per barrel, the BSE Sensex ended 443.19-points and NSE Nifty gained 143.35-points.

The domestic currency gained in Asian markets against the greenback. The Indian rupee gained 6 paise to open at 73.02 against the dollar, reflecting a bullish trend in local stocks and sustained foreign capital inflows on September 2. The domestic unit opened at 73.04, rose to 73.02 by gaining 6 paise over its previous closing. The rupee also hit a low of 73.10 during the early trade.