Stop Rupee from scoring century, Congress says
2 years, 3 months ago

Stop Rupee from scoring century, Congress says

The Hindu  

​​ The Congress on Tuesday attacked the Centre over the depreciating value of the rupee against the dollar and said the only request to Prime Minister Narendra Modi is to stop the rupee from scoring a century. Addressing a press conference at the party headquarters here, Congress Spokesperson Supriya Shrinate said for the first time in history, the rupee is racing fast towards 82 against the dollar. "With Modi Ji's blessings, the rupee has become the weakest in history and he who claimed the fall in the value of rupee is directly linked to falling in Prime Minister's credibility must realise his own credibility is in a bottomless pit," Shrinate said. "On May 26, 2014, when Modi Ji took oath as Prime Minister for the first time, the value of rupee against USD 1 was 58.62 - which means the value of the rupee has crashed by 41.5 per cent during Modi Ji's tenure," she said. India's foreign exchange reserves, which were at USD 642 billion in September 2021, now stand at USD 545.65 billion, Shrinate said.

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History of this topic

Rupee’s fall sparks a war of words between the ruling party, Opposition
1 day, 19 hours ago

Rupee’s fall sparks a war of words between the ruling party, Opposition

Live Mint  

The Indian rupee's depreciation beyond ₹86 against the US dollar on Monday sparked a war of words between the ruling Bharatiya Janata Party and the opposition Congress party over the currency's economic performance during their respective terms. Congress leader Jairam Ramesh took a dig at Prime Minister Narendra Modi on social media platform X over the currency's depreciation, questioning Modi's …

Rupee expected to weaken more in coming months
1 week, 5 days ago

Rupee expected to weaken more in coming months

Live Mint  

Mumbai: The rupee is expected to further weaken in the coming months as Trump’s presidency strengthens the dollar at least in the near-term, experts said, adding that the central bank's interventions in the currency market are likely to ease. “There is a pending depreciation pressure visible on the rupee and that is seen in the REER overvaluation of around 8%," …

Rupee takes a dive, more turbulence in 2025
1 month ago

Rupee takes a dive, more turbulence in 2025

Live Mint  

What triggered the rupee’s recent fall? The Indian rupee breached a record low of 84.85 per dollar this week and briefly tested 85.06-per-dollar levels as outgoing Reserve Bank of India governor Shaktikanta Das’s term ended on Tuesday. However, increasing geopolitical uncertainty, attractive US government bond yields, cheaper crude oil prices and heavy foreign institutional investor outflow from domestic equities further …

Indian rupee hits fresh low amid US dollar rally and ongoing FPI selloff
1 month, 3 weeks ago

Indian rupee hits fresh low amid US dollar rally and ongoing FPI selloff

Live Mint  

The Indian rupee slipped to another fresh low of 84.50 against the US dollar in trade on November 22 as the greenback’s steady rise, persistent selling by foreign portfolio investors, and escalating geopolitical tensions continued to weigh heavily on the local currency. The dollar’s strength has been fueled by expectations that President-elect Donald Trump’s policies could reignite inflation and reduce …

INR vs USD: Indian National Rupee hits record low of 84.38 against the US Dollar; Will it depreciate further?
2 months ago

INR vs USD: Indian National Rupee hits record low of 84.38 against the US Dollar; Will it depreciate further?

Live Mint  

The Indian rupee hit a record low on Monday against the US dollar, reflecting broader weakness among Asian currencies under pressure following Donald Trump’s victory in the U.S. elections. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.05% at 105.05, near the four-month peak achieved last week following Trump’s win. …

Rupee may depreciate 8-10 per cent during Trump 2.0, says SBI report
2 months ago

Rupee may depreciate 8-10 per cent during Trump 2.0, says SBI report

New Indian Express  

NEW DELHI: The rupee may depreciate 8-10 per cent against the US dollar during the Trump 2.0 regime, said a SBI research report, even as the local currency hit its all-time low on Monday. The report, titled US Presidential Election 2024: How Trump 2.0 Impacts India's and Global Economy, emphasised that the rupee can have a brief spell of depreciation …

Congress slams PM Modi over fall of rupee against U.S. dollar
9 months, 3 weeks ago

Congress slams PM Modi over fall of rupee against U.S. dollar

The Hindu  

The Congress on March 24 targeted Prime Minister Narendra Modi on the issue of falling value of the Indian rupee against the U.S. dollar, and sought answers from him. Congress general secretary Jairam Ramesh said the falling value of the rupee impacts the pocket of every Indian due to rising fuel rates, inflation and higher EMIs for loans. The weakening …

Indian rupee ends 2022 as worst-performing Asian currency
2 years ago

Indian rupee ends 2022 as worst-performing Asian currency

Live Mint  

The Indian rupee ended 2022 as the worst-performing Asian currency with a fall of 11.3%, its biggest annual decline since 2013, as the dollar rocketed on the U.S. Federal Reserve's aggressive monetary policy stance to tame inflation. Heading into 2023, market participants believe the rupee would trade with an appreciation bias, finding relief from easing commodity prices and hopeful of …

Rupee volatility matters less than our broad policy aim
2 years, 2 months ago

Rupee volatility matters less than our broad policy aim

Live Mint  

Would you tell me, please, which way I ought to go from here?” “That depends a good deal on where you want to get to.”—Lewis Caroll, Alice in Wonderland The rupee has moved from a rate of ₹74.51 to the US dollar on 1 January 2022, to ₹82.27 at the time of writing this. This has led to concerns regarding …

Rupee volatility matters less than our broad policy aim
2 years, 2 months ago

Rupee volatility matters less than our broad policy aim

Live Mint  

Our currency has been less volatile this year than in 2021 and global trade integration calls for a freer float Would you tell me, please, which way I ought to go from here?" {{^adFree}} {{/adFree}} We compared the changes in volatility of the rupee vis-à-vis the dollar for the period January–October 2021 and 2022, drawing on Yahoo Finance data. The …

Only request to PM Modi is to stop rupee from scoring century: Cong
2 years, 3 months ago

Only request to PM Modi is to stop rupee from scoring century: Cong

Deccan Chronicle  

NEW DELHI: The Congress on Tuesday attacked the Centre over the depreciating value of the rupee against the dollar and said the only request to Prime Minister Narendra Modi is to stop the rupee from scoring a century. Addressing a press conference at the party headquarters here, Congress spokesperson Supriya Shrinate said for the first time in history, the rupee …

Costlier Oil Prices, Tight Financial Conditions, FPI Outflows Responsible For Rupee Fall: Sitharaman
2 years, 5 months ago

Costlier Oil Prices, Tight Financial Conditions, FPI Outflows Responsible For Rupee Fall: Sitharaman

News 18  

Finance Minister Nirmala Sitharaman on Monday said global factors, such as a surge in crude oil prices and tight financial conditions, along with foreign portfolio investment outflows, are responsible for the fall in the exchange rate of the Indian rupee against the US dollar. “Global factors such as the Russia-Ukraine conflict, soaring crude oil prices and tightening of global financial …

Why the fall of the rupee should have us all worried
2 years, 6 months ago

Why the fall of the rupee should have us all worried

The Hindu  

Published : Jul 10, 2022 18:00 IST ALL is not quiet on India’s external economic front. In fact, in a recent interview to Business Standard, Duvvuri Subbarao, a former RBI Governor, pointed out that “even as the rupee has depreciated vis-à-vis the dollar, it has actually strengthened against other hard currencies such as the euro and the yen” and that …

A weakening rupee and its broad implications on our economy
2 years, 6 months ago

A weakening rupee and its broad implications on our economy

Live Mint  

The Indian rupee has weakened by about 5% over the course this year so far, in response to domestic and global factors. The rupee is not alone: It could very well be said that the latest turn of events in currency markets is more of a dollar strengthening situation, as the US Federal Reserve’s rate-hiking spree has bolstered the dollar …

Rupee likely to depreciate further to 78 per dollar in 2019 on widening fiscal and current account deficits: Report
5 years, 11 months ago

Rupee likely to depreciate further to 78 per dollar in 2019 on widening fiscal and current account deficits: Report

Firstpost  

According to Karvy, this is expected to be a “mixed year” for the commodities and currencies market and the rupee may depreciate further New Delhi: The rupee may depreciate to 78 per US dollar this year, largely owing to widening fiscal and current account deficits, which are the biggest pain points for the domestic currency. According to Karvy’s Annual Commodity …

Rupee falls further against US dollar
6 years, 1 month ago

Rupee falls further against US dollar

Live Mint  

Mumbai: The Indian rupee extended its losses on Wednesday against the US dollar after ruling Bhartiya Janata Party suffered a setback in the three state elections, and also after the government announced a former bureaucrat as a central bank chief. Analyst expects that the markets focus will shift now towards assessing continued central bank independence after two governers in a …

Rupee at 74 to a dollar is still better than its peers, says Urjit Patel
6 years, 3 months ago

Rupee at 74 to a dollar is still better than its peers, says Urjit Patel

The Hindu  

On the day the rupee breached the 74-mark against the US dollar for the first time, RBI governor Urjit Patel on Friday reiterated that the domestic currency is still better than its emerging market peers and that the apex bank does not have a target for it. Admitting that the country has not been immune to global spillovers from external …

'Rupee not breaking, it's broken'; Rahul Gandhi slams government over currency depreciation
6 years, 3 months ago

'Rupee not breaking, it's broken'; Rahul Gandhi slams government over currency depreciation

India TV News  

Congress President Rahul Gandhi on Thursday hit out at the government over the continuous weakening of currency. Gandhi's latest tirade against the government comes hours after Rupee hit a record low of RS 73.77 against the US dollar. The Congress President also hit out at Prime Minister Narendra Modi questioning his silence over the falling value of the Indian Rupee. …

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