INSUBCONTINENT EXCLUSIVE:
Dollar vs Rupee: On Friday, the rupee had settled at 71.14 against the dollar.
The rupee fell by 29
paise to close at an over six-month low against the US dollar on Monday, news agency Press Trust of India (PTI) reported
The fall came on the back of growing worries over economic slump and sustained foreign fund outflows
The rising crude oil prices and strengthening of the greeback vis-a-vis other currencies overseas also took a toll on the rupee
Forex traders said investors are awaiting government intervention to revive the slowing economy
The rupee opened on a weak note and fell to an intraday low of 71.48 before closing at 71.43 against against the American currency
Here are ten things to know about rupee-dollar rate today:This is the lowest level for the rupee since February 7, when it
Brent crude has been inching up for last two sessions," PTI quoted VK Sharma, head-PCG - capital market strategy, HDFC Securities, as
saying.Mr Sharma further said that the US dollar was hovering near two-week highs against a currency basket on Monday as US Treasury yields
bounced back from recent lows amid hopes that major economies will seek to prop up slowing growth with fresh stimulus
Next major support for the rupee is seen at 72.40 odd levels, he said.This week the focus will be on the Reserve Bank of India, Federal Open
Market Committee and European Central Bank minutes, the annual Jackson Hole Symposium of central bankers and Fed chair Powell's speech,
the report quoted Rajesh Cheruvu, CIO, Validus Wealth as saying
said.Brent crude futures, the global oil benchmark, rose 0.85 per cent to trade at $59.14 per barrel.Foreign institutional investors (FIIs)
remained net sellers in the capital markets, pulling out Rs
The Sensex rose 52 points or 0.14 per cent to close at 37,402 and the NSE Nifty 50 gained 0.06 per cent or 6 points to 11,054.The dollar
index, which gauges the dollar's strength against a basket of six currencies, rose 0.07 per cent to 98.21
Meanwhile, the 10-year government bond yield was at 6.58 per cent on Monday.On Friday, the rupee had settled at 71.14 against the dollar.Get
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