The Indian rupee saw a decline of 105 paise against one US dollar, on April 7 markets shuts at 74.47 making it the biggest fall in last 20-months. However, the RBI's status quo on repo rate remains firm. According to a Research analyst Saif Mukadam, the depreciation is fuelled due to new lockdown restrictions. Besides, the Central government claims that the economic growth remains uncertain due to lockdown.
Courtesy: Deccan Herald
Indian rupee has emerged as the only thriving Asian currency in the month of March, owing to foreign investments attracted by share-sale offers. Reportedly, $2.4-billion worth international acquisitions of local stocks and an array of initial public offerings improved rupee's stature by 1.3% this month. Public companies raising $1 billion-plus loans and the RBI allowing the currency appreciation have also been driving factors. However,… read-more
The Indian currency on January 4 surged at a four-month high against the US dollar, opening at 72.84 from the last close of 73.12. Experts opined that the positive increment has resulted after Indian government approved two COVID-19 vaccines. Citing the record-high GST collections in December 2020, the IFA Global CEO Abhishek Goenka said the domestic consumption is recovering and also expected a further rise in rupee in the future.