Snapping Tuesday's gains, Indian rupee closed 4 paise down at 67.10 against the US dollar at Interbank Foreign Exchange market (forex market) on Wednesday after demand for American currency rose among importers and banks.
India on 10 wealthiest country list, takes 7th spot:India has figured among the top 10 wealthiest countries in the world with a total individual wealth of USD 5,600 billion while the United States topped the chart.
The new king of Indian monetary policy's appointment was greeted by red trading screens as the Sensex stock index, Indian bonds, and the Rupee all fell on the appointment. The fall in Indian stocks is understandable given Mr Patel's avowed hawkishness.
Brexit has roiled global financial markets and impacted currencies across the globe. Rupee is slated to gyrate between 67.65 and 69.30 to the dollar between now and July 27, options expiring next month indicate.
MUMBAI—India's rupee has been the worst-performing major Asian currency this year, and, with a change coming atop the central bank and sizable foreign-currency repayments pending, it is poised to lose more value in coming weeks, analysts said.
Dubai: A rebound in the Indian rupee may be short-lived as a recipe for disaster is in the making, fund managers say. A stronger dollar, high inflation, along with expectations of a rate cut after the new central bank governor assumes office in ...
Bankers, investment managers and financial services experts Forbes India spoke to, say the Indian rupee will be under “considerable pressure” to the dollar and cite it as a major concern in coming months.