THE rupee hit an intra-day low of 85.81 to the dollar on Friday, despite the RBI selling the forex reserves from its kitty to prop up the domestic currency.
The domestic currency tanked 38 paise from the previous close to settle at 85.5914 on Friday as dollar continued to rally and importers were constantly lapping up the greenback. Traders are expecting more pains for the currency and see it falling to 86 by March.
For the reporting period ending December 20, forex reserves had fallen by $8.5 billion to a seven-month low at $644.39 billion, only enough to cover nearly 11 months of imports.
Denne historien er fra December 28, 2024-utgaven av The New Indian Express Mangaluru.
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Denne historien er fra December 28, 2024-utgaven av The New Indian Express Mangaluru.
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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Shining with Poise and Passion
In its 30th edition, the Devi Awards was a gala show of power, talent and achievement, recognising and celebrating women from across the spectrum
The Talented Mr Palekar
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Holding Fort in the Happiest Country
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Unraveling the Geopolitical Game Playing Out in Syria
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Washington plays supporting role in India's fightback
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Arsenal Maintain Title Pursuit With Narrow Victory
DECLAN Rice is hoping 2025 brings silverware for Arsenal but knows they need some help to deny a rampant Liverpool the Premier League title.
Nitish K Reddy
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Rise of women sports in country, in crowd and in spirit
It was the semifinal day of the 2024 Women's Asian Champions Trophy in Rajgir.
Carlsen quits world chess event over jeans row
CHESS number one Magnus Carlsen has quit a World Championship event in New York after being fined and threatened with exclusion for breaching the dress code by wearing jeans.
BFC Post Thrilling Away Win Over Chennaiyin FC
RYAN Williams scored a brace as Bengaluru FC posted a thrilling 4-2 victory over Chennaiyin FC in the Indian Super League at the Jawaharlal Nehru Stadium in Chennai on Saturday.
