
Rupee falls to record low of 77.41 against US dollar
The rupee opened at 77.17 against the US dollar at the interbank foreign exchange.
The rupee opened at 77.17 against the US dollar at the interbank foreign exchange.
Two-pronged transformations in the global financial system will result in swifter downfall of the dollar.
The Indian rupee tanked 84 paise to close at an all-time low of 77.01 against the US dollar
According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.
The big question is how much more foreign exchange will the Reserve Bank of India buy, and why?
While hoping for no rate action from RBI, Ind-Ra expects a macroeconomic hotchpotch if these factors sustain beyond a quarter.