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Rupee held its own against dollar. What about other currencies: FM Sitharaman

Nirmala Sitharaman, who is on a three-day visit to Pune in Maharashtra, asked a reporter to study how currencies, other than the Rupee, are performing against the dollar in the latest round of depreciation.

Union finance minister Nirmala Sitharaman. (Photo by Pratham Gokhale/Hindustan Times)
Union finance minister Nirmala Sitharaman. (Photo by Pratham Gokhale/Hindustan Times)
Updated on Sep 24, 2022 11:06 PM IST
By | Edited by Sohini Goswami, New Delhi

Number Theory: Why rupee depreciation is bad, not good news

Any currency depreciation may trigger two opposite effects on the domestic economy - an inflationary impact which occurs through an increase in the cost of importable goods, and a positive impact on the economy if it makes exports cheaper in global markets and imports costlier in domestic market.

Since a country typically trades with multiple foreign partners, the relevant indicators for exchange rate analysis of the rupee is India’s weighted average bilateral exchange rates with respect to its trade partners. (Bloomberg)
Since a country typically trades with multiple foreign partners, the relevant indicators for exchange rate analysis of the rupee is India’s weighted average bilateral exchange rates with respect to its trade partners. (Bloomberg)
Updated on Aug 09, 2022 01:42 PM IST

India’s currency weakens to lowest on record on coronavirus fears

The rupee slid to 73.6 per dollar on Wednesday to become the worst performing Asian currency, which had stayed relatively stable earlier in the absence of new virus cases in the country.

The rupee may fall to as low as 75 per dollar, surpassing the record low hit in October 2018.(REUTERS)
The rupee may fall to as low as 75 per dollar, surpassing the record low hit in October 2018.(REUTERS)
Updated on Mar 04, 2020 01:59 PM IST
Bloomberg | ByKartik Goyal

Rupee likely to beat most Asian currencies in 2020, says top forecaster

According to Hugo Erken of Raobank, the rupee could weaken less than 1% over the next 12 months, while Indonesia’s rupiah may fall 7%, Thai baht 11% and the Malaysian ringgit 9%.

The worst of the country’s economic slowdown has passed and the authorities are unlikely to use currency depreciation as a measure to revive growth, said Hugo Erken of Rabobank(REUTERS)
The worst of the country’s economic slowdown has passed and the authorities are unlikely to use currency depreciation as a measure to revive growth, said Hugo Erken of Rabobank(REUTERS)
Updated on Jan 10, 2020 10:13 AM IST
ByBloomberg

Rupee opens on a flat note at 71.06 against US dollar

At the interbank foreign exchange, the rupee opened at 71.06 on Friday, showing a decline of 4 paise over its previous closing.

Traders said rupee is trading in a narrow range as market is awaiting fresh cues on the potential US-China trade deal.(REUTERS)
Traders said rupee is trading in a narrow range as market is awaiting fresh cues on the potential US-China trade deal.(REUTERS)
Updated on Oct 25, 2019 10:19 AM IST
Mumbai | ByPress Trust of India
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