INSUBCONTINENT EXCLUSIVE:
INR Vs USD: The rupee breached its previous all-time low of 74.23 Tuesday's session.
The rupee
reversed all of its gains against the US dollar to hit a lifetime low of 74.27 in afternoon trade on Tuesday
A surge in crude oil prices and strength in the American currency overseas pulled the rupee lower
The rupee had started Tuesday's session on a higher note by opening at 73.93 against the dollar, and then advancing to 73.88 on fresh
However, it couldn't sustain those gains and gave up all of those gains in the second half of the day
Here are 10 things to know:The rupee touched a fresh all-time low of 74.27 during Tuesday's session, breaching an all-time
to trade above $84 a barrel levels, not far from a four-year high of $86.74 registered last week.Traders said there was some importer demand
seen on Tuesday, but intermittent dollar selling by the central bank is likely to prevent a steep fall in the unit.Sentiment in the forex
of a 25-basis point hike by analysts
The central bank kept the repo rate - the rate at which it lends short-term funds to commercial banks - unchanged at 6.5 per cent.RBI
Governor Urjit Patel had said that the fall in the rupee is moderate in comparison to emerging market peers, and the central bank has been
trying to ensure liquidity in the forex market.The International Monetary Fund downgraded its global growth forecast for the first time
The IMF cut its growth projection for India by 0.1 per cent to 7.4 per cent for next year citing external factors citing external
factors.Analysts expected some demand for the greenback a day after a dollar settlement holiday.On Monday, the rupee had plunged by 30 paise
to close at a record 74.06 against the greenback
shares net worth a net of Rs 1,805 crore on Monday, provisional data showed.The domestic equity markets turned negative amid volatility in
At 3:11 pm, the SP BSE Sensex traded at 34,305.72, down 168.66 points or 0.5 per cent, and the Nifty50 index of the National Stock Exchange
