Rupee plunges to fresh lifetime low amid strong dollar, persistent FII selling; What’s dragging the currency
时间:2024-06-26 08:54:52 阅读(143)
The Indian rupee depreciated 14 paise to fresh lifetime low of 79 against the US dollar in opening trade on Wednesday amid persistent foreign capital outflows and elevated crude oil prices. At the interbank foreign exchange, the local unit opened on a weak note at 78.86 against the greenback, then lost ground to quote at 79 — its all-time low level, registering a fall of 14 paise from the previous close. On Tuesday, the rupee plunged by 48 paise to close at record low of 78.85 against the US dollar. “The rupee has fallen to 79.00 levels much earlier than anticipated as RBI withdraws its hands and with no sellers in the market of the$ and no inflows,” said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.
“Today in the evening we have the GDP data. The rupee seems to be now covering up its earlier slow depreciation and soon we could see a new figure of 80 added up to it. Most Asian currencies have today depreciated and with equities unable to give much relief more depreciation is on the cards. Exporters can now keep waiting with a stop loss of 78.75 while importers to just buy and buy more on dips if they get it,” Bhansali added.
猜你喜欢
- The rise of e-learning; Canadian universities adapting to the needs of international students
- Axis Bank- Growth outlook strong; a robust 18% core PPoP growth from FY23 to FY26F seen
- Petrol and Diesel Rate Today, 3 February- Fuel prices steady, Check rates in Delhi, Mumbai, other cities
- ASK launches new realty fund; eyes Rs 1500 crore raise
- Basmati’s mandi prices in Haryana, Punjab decline
- Titan Stock Outlook- Brokerage cuts rating, growth likely from eyewear; check target price
- Udayshivakumar Infra IPO Day 1- Retail investors bid 0
- Bajaj Auto shares hit 52-week high; Should you buy, hold or sell the stock-
- Tomato prices at Mother Dairy’s retail stores doubled to nearly Rs 80 per kg in last one week