According to RBI data, the 40-currency basket measuring the rupee's competitiveness shows it was overvalued by 7.21 percent through October-nearly the highest in six years.
But the rupee's decline of 1.5 percent this year against the dollar is the least among Asian currencies. RBI Governor Shaktikanta Das recently noted that the rupee has emerged as one of the least volatile currencies in the world since the start of 2023. Given that excessive volatility can have detrimental effects, RBI's stated policy is to ensure that the exchange rate remains stable, which in turn instils confidence among market participants, investors and the wider economy.
Denne historien er fra November 23, 2024-utgaven av The New Indian Express.
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Denne historien er fra November 23, 2024-utgaven av The New Indian Express.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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TECHNOLOGY TRENDS THAT STOOD OUT IN 2024
THOUGH many emerging technologies took centre stage in 2024, the year was more about driving transformation and integrating technology across various industries.
Shahrukh, Mohamed help TN down UP
Shahrukh Khan's 85-ball 132 not out and Mohamed Ali's unbeaten 76 powered Tamil Nadu to a massive 114-run win over Uttar Pradesh at Visakhapatnam in a Group D match of the Vijay Hazare Trophy.
Wrestling continues to grapple for survival
The sorry state of affairs in wrestling continues even though Aman Sehrawat, with his Olympic bronze, salvaged some pride earlier this year. As 2024 nears end, Firoz Mirza sheds some light on issues ailing the sport and way forward to reclaim the good old days...
City pay penalty, Chelsea stunned
ERLING HAALAND had a second-half penalty saved as crisis-torn Manchester City failed to end their dismal run with a 1-1 draw against Everton, while title contenders Chelsea suffered a first home defeat against Fulham since 1979.
Teen Konstas takes bowlers to cleaners on his Test debut
JASPRIT Bumrah had just welcomed Sam Konstas to Test cricket.
Top Gun 4: Oz batters foil India's plans
In front of record number of fans at MCG on Day 1, Australia top-four help
Indian Companies May Raise ₹2 Lakh Cr From Market Via Public Issues In 2025
DESPITE a sharp correction in the equity market in recent months, the initial public offering (IPO) market has remained robust.
India sees higher oil demand growth than China
THE year 2024 is going to end with a higher oil demand growth rate as compared to China's.
Rupee continues to decline for third consecutive session, hits low of 85.26
THE rupee continued to bleed for the third consecutive day on Thursday, pressured by a firm dollar and importers' month-end dollar demand.
Govt could reduce income tax rates in budget
AMID outcry over the growing tax burden on the middle class, the government might reduce income tax rates for individuals earning up to ₹15 lakh a year, according to a report by Reuters.
