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.
Esta historia es de la edición December 28, 2024 de The New Indian Express Shivamogga.
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Esta historia es de la edición December 28, 2024 de The New Indian Express Shivamogga.
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PITHAMPUR ON WARPATH
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Nair in record books, easy win for Tamil Nadu
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North East United held by Mohammedan in ISL
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Deepali delighted with 'very special' recognition
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Brigade group to develop housing project in B'luru
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Oil refiners may see fall in profit next financial year
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BSNL Loses 0.87 Mn Users to Pvt Telcos, Gains 0.46 Mn Users in Nov
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EV sector needs no more subsidies
Sector is ready, there are options available by which e-mobility can be marketed, says Goyal
