Rupee Today: Rupee starts on the backfoot on dollar’s sharp rise The rupee started on a weak note early on Monday, tracking a re-energised dollar after blockbuster US jobs data pushed expectations for a bigger-sized Federal Reserve rate hike, hurting global risk assets. Bloomberg quoted the rupee last at 79.4788 against the greenback, after opening weaker… Read More »
Forex reserves rose by over $2 billion on significant capital inflows India’s forex reserves rose to the highest in three weeks in the last week of July, supported by robust capital inflows and the rupee’s weakening reversal to sharp gains from 80 per dollar to below 79. The Reserve Bank of India’s weekly supplementary statistical… Read More »
RBI policy to help prop up rupee, ensure financial stability: Bankers Mumbai: Bankers have welcomed the front-loading of rate hikes by the RBI and changing the accommodative stance to resolutely bring inflation under control and help prop up the falling rupee. The Reserve Bank on Friday raised the key interest rate by 50 basis points… Read More »