A survey conducted by industry body Confederation of Indian Industry (CII) highlights the importance of economic reforms in arresting the depreciation of rupee against dollar.Some of the key reforms mentioned by the participants of the survey are relaxing the sectoral cap on foreign direct investment (FDI), controlling fuel and fertiliser subsidies, removing hurdles to infrastructure proje
Tag: money market
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Indian rupee hits record low against dollar
In a recent trading session, the Indian rupee depreciated beyond the Rs 60 per dollar level owing to strong demand from importers. The Indian currency is learnt to have declined to Rs 60.76 per dollar in a recent trading session. In the month of June, the currency weakened 7 percent against the US dollar and 12 percent since May 1. Some market expects expect rupee to fall to 61-62 against dollar in the short term. However, they expect the weakening of the rupee to be temporary because in longer
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Rupee hits another record low against dollar
The Indian rupee hit a record low of 59.9850 against US dollar in a recent trading session as foreign investors continue to pull out of their investment in the Indian stock market and bonds. With the considerable depreciation in the Indian rupee, traders are expecting the Reserve Bank of India to step in to sell dollars to arrest further weakening. The Indian currency depreciated 11 percent since May 2013. This will adve
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Rupee falls to all-time low against dollar
The Indian rupee depreciated against the greenback to touch an all-time low of 58.15 per dollar in a recent trading session because of the perceived recovery in the US economy. The perceived recovery of the US economy caused fear that the US Federal Reserve may taper off its quantitative easing programme and this led to the rally of US dollar against many