Rupee plunges to record low amid growth concerns
Financial Express Mumbai|December 03, 2024
The rupee fell to another all-time low of 84.70 against the dollar on Monday, as the sharp decline in gross domestic product (GDP) growth weighed on investor sentiment.
ANUPREKSHA JAIN
Rupee plunges to record low amid growth concerns

According to market participants, dollar sales from the Reserve Bank of India (RBI) in the non-deliverable forwards (NDF) market and spot market kept the depreciation in check. They, however, said that the central bank's intervention in the market was not aggressive as other Asian currencies were also facing the heat due to strengthening of the greenback.

The rupee ended at a record low of 84.704/$, down 0.3% or 21 paise from its previous close of 84.492. During the day, it hit a low of 84.709.

هذه القصة مأخوذة من طبعة December 03, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 03, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من FINANCIAL EXPRESS MUMBAI مشاهدة الكل
Financial Express Mumbai

Top IITs see a drop in campus placements

More students likely getting jobs independently

time-read
2 mins  |
January 07, 2025
Financial Express Mumbai

ICC explores two-tier Test cricket system

ICC chief Jay Shah will meet Cricket Australia chair Mike Baird and his England counterpart Richard Thompson to discuss the finer points

time-read
1 min  |
January 07, 2025
US set to lift curbs on Indian nuclear entities
Financial Express Mumbai

US set to lift curbs on Indian nuclear entities

Eyeing Deeper Energy Ties

time-read
1 min  |
January 07, 2025
Eight jawans among 9 killed in Naxal attack
Financial Express Mumbai

Eight jawans among 9 killed in Naxal attack

VEHICLE BLAST IN CHHATTISGARH

time-read
1 min  |
January 07, 2025
Cautious outlook for auto companies in Q3
Financial Express Mumbai

Cautious outlook for auto companies in Q3

No segment shows growth except tractors

time-read
1 min  |
January 07, 2025
Financial Express Mumbai

SBI Cards: Credit costs to improve

Management strengthens risk assessment measures

time-read
2 mins  |
January 07, 2025
Financial Express Mumbai

Banks: Slower loan growth a worry

Asset quality concerns ease

time-read
2 mins  |
January 07, 2025
In search of a growth driver
Financial Express Mumbai

In search of a growth driver

DIFFICULT TO IDENTIFY A SECTOR THAT HAS POTENTIAL TO LIFT ECONOMY TO A HIGHER TRAJECTORY

time-read
4 mins  |
January 07, 2025
Tesla and Waymo should learn from '24 air crashes
Financial Express Mumbai

Tesla and Waymo should learn from '24 air crashes

If you yearn for a future where you can travel from place to place in safety and comfort, some of the major transport events of 2024 might feel like a setback.

time-read
2 mins  |
January 07, 2025
Financial Express Mumbai

Judicial Overreach Unwarranted

High court order staying Religare Enterprises AGM risks undermining shareholder rights, regulatory authority, and market confidence

time-read
3 mins  |
January 07, 2025