Explainer: Why rupee hit record low against US dollar

The Indian rupee hit a record low against the US dollar due to anticipated outflows and robust demand from local importers, with the central bank's role crucial in managing its value amidst broader Asian currency trends and the US dollar's strength. This marked a significant decline to 83.6650 against US dollar in the latter half of the trading session, before settling at 83.6425 primarily due to equity outflows and corporate demand for dollars.

Rupee falls 5 paise to 83.54 against US dollar in early trade

hindustantimes.com - 04/Jul 04:29

At the interbank foreign exchange market, the rupee opened at 83.52 and lost further ground to trade at 83.54 against the greenback in initial deals.

India's foreign exchange reserves rise by $810 mn to $653.7 bn on June 21: RBI

hindustantimes.com - 28/Jun 14:38

India's foreign exchange reserves rose to $653.7 billion during the week ended on June 21, with the rupee hitting a record low against the dollar.

US dollar exchange rates at major Egyptian Banks on Saturday

egyptindependent.com - 06/Jul 13:33

The dollar’s exchange rate against the Egyptian pound remained stable on Saturday. This stability reflects the downward trend observed in recent...

Mid-year Economic Outlook 2024-25: Games wide open?

tradesecurely.ca - 26/Jun 17:53

The upcoming political developments will again challenge resilience. While global growth hit its lowest point in the first half of the year, the...

Euro outlook uncertain

financialmirror.com - 25/Jun 09:10

The EURUSD extended its recovery to 1.0740 in Tuesday’s European trading, with the major currency pair rising as growing optimism for the Fed to...

Mnangagwa says ZiG is set to replace USD as Zimbabwe’s sole currency

nehandaradio.com - 06/Jul 13:08

President Emmerson Mnangagwa has announced plans to phase out the US dollar and introduce the Zimbabwe Gold (ZiG) as the country's sole currency....

Japan's Topix hits record high as banks and automakers rise

thestar.com.my - 04/Jul 05:15

TOKYO: Japan's Topix hit a record high on Thursday, led by gains in automakers and banks, as the market expects a robust corporate outlook in the...

U.S. Fed officials stressed 'patience' on rate cuts: minutes

rawstory.com - 05/Jul 11:38

Members of the US Federal Reserve's rate-setting committee said last month that the bank's employment and inflation goals were moving into "better...

BMI: Ringgit likely to appreciate substantially in Q4, to reach 4.55 by year-end [BTTV]

nst.com.my - 02/Jul 09:18

KUALA LUMPUR: The ringgit will appreciate later this year, rising from RM4.70 currently to RM4.55 against the US dollar by end-2024, with narrowing...

Copper prices come back down to earth after May record and weaker demand from China

thewest.com.au - 27/Jun 00:12

Copper is coming down from a bull run with the dollar strengthening and prices facing sustained pressure from weak Chinese demand.

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