Rupee Hits Lifetime Low: The Indian Rupee hit a lifetime low level of 80.43 on Thursday after US Fed’s decision to hike interest rate by 75 basis points yet again. The domestic currency opened at a record low of 80.2850 per US dollar, down from the previous close of 79.97.
Rupee depreciation
Rupee Down 15 Paise To All-Time Low Of 79.60 Against US Dollar
The rupee declined 15 paise to close at a new lifetime low of 79.60 (provisional) against the US dollar on Tuesday as a strong greenback overseas and weakness in domestic equities continued to weigh on investor sentiments.
Ahead of Dhanteras – Indian Gold Demand in 2018 is Expected to Fall From the Previous year
Ahead of Dhanteras – Indian Gold Demand in 2018 is Expected to Fall From the Previous year – A fall in demand from the world’s Second Biggest Bullion buyer could weigh on global prices that are already down 6.5 percent so far this year.
Narendra Modi Urges Oil Suppliers to Review Payment Terms to Give Rupee Relief – Gold Silver Reports
Indian Prime Minister Narendra Modi urged global oil suppliers on Monday to review payment terms in order to give relief to the country which is struggling with a weakening currency.
Customs Duty Hiked On Mobile Phone Parts And Other Communication Items
The Indian government has raised the basic customs duty on a number of items used in electronic and mobile communications in a move aimed at narrowing down the current account deficit.