
Rupee holding ground amid strengthening U.S. dollar: FM
Rupee will find its own level, says Nirmala Sitharaman
Rupee will find its own level, says Nirmala Sitharaman
The rupee opened at 82.68 against the US dollar at the interbank foreign exchange.
This is the fourth consecutive session of loss for the domestic currency.
Elevated ATF prices will impact earnings and liquidity profile of the airlines in the near to medium term, while weaker rupee to dollar will raise input costs.
RBI on Monday put in place an additional arrangement for invoicing, payment, and settlement of exports and imports in the Indian rupee.
Nomura expects the Indian rupee to fall to 82 against the dollar by the third quarter of 2022.
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%.