INSUBCONTINENT EXCLUSIVE:
Till Monday's close, the rupee is down 2.38% against the dollar so far this year
Extending its
decline for a second straight day, the rupee fell by as much as 34 paise - or 0.53 per cent - to 71.81 against the dollar on Tuesday
After opening lower against the greenback at 71.56, down 13 paise from the previous close, the rupee slumped to as much as 71.81 during the
Rising crude oil prices along with strength in the dollar overseas were seen exerting pressure on the domestic unit
Meanwhile, weakness in the equity markets also added to negative sentiment in the forex market
The rupee had ended at 71.43 against the dollar, its lowest level in more than six months - on Monday
Here are 10 things to know about movement in the rupee against the dollar today:The rupee was last seen trading at 71.76
against the US currency in afternoon deals on Tuesday.Analysts say economic growth concerns continue to spook the rupee amid the ongoing
US-China trade conflict affecting Asian peers.The rupee is likely to be driven by flows as the markets await triggers from key events,
according to forex advisory firm IFA Global, which expects the rupee to trade in the range of 71.40-71.85 with an upward bias in the near
term."The RBI faces the challenge of transmission Some banks have linked rates for new loans to retail and MSME (medium and small
enterprises) clients to repo rate but the RBI has not yet formalised the system," IFA Global said.Foreign institutional investors (FIIs)
remained net sellers in the capital markets, having pulled out Rs 9,362.83 crore ($1,344.77 million) from equities so far this month, data
from NSDL showed.The 10-year government bond yield was flat at 6.59 per cent in afternoon trade.Hopes of government intervention to revive
Tuesday on hopes about easing of US-China trade tensions and announcements of stimulus measures by major economies to ward off a potential
economic slowdown that could hit oil demand
Brent crude futures - the global benchmark for crude oil - were last seen trading up 0.42 per cent at $59.99 a barrel.The dollar index,
which measures the greenback against six currencies, hit a more than three-week high
It was last seen trading 0.01 per cent higher at 98.3600 on Tuesday.Analysts will closely monitor the minutes of the latest scheduled
meetings of central banks including the Reserve Bank of India and the Federal Reserve due this week.(With agency inputs)Get Breaking news,
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