Indian markets witnessed sharp turmoil as Sensex and Nifty slipped amid heavy selling pressure, while the rupee hit an all-time low against the US dollar. Weak global cues and sell-offs across Asian markets triggered investor anxiety.
Nepal has ended its ten-year prohibition on high-denomination Indian banknotes, allowing individuals to carry Rs 200 and Rs 500 notes up to INR 25,000, easing travel, boosting trade, and addressing concerns of migrant workers and the tourism sector.
The Indian rupee registered its sharpest single-day fall in over three months, slipping past the 89-per-dollar mark for the first time. The currency plunged 78 paise to hit an all-time low of 89.46 amid global market weakness, strong US dollar, FPI outflows, and uncertainty around US-India trade relations.
The rupee recovered 9 paise to settle at 83.31 (provisional) against the US dollar on Thursday on the back of softening American currency as well as crude oil prices in the overseas market. Read further on Dynamite News:
The rupee depreciated 9 paise to 83.27 against the US dollar on Wednesday, tracking a negative trend in domestic equities and elevated crude oil prices. Read further on Dynamite News:
The rupee recovered from its all-time low level and settled 4 paise higher at 83.34 against the US dollar on Tuesday, tracking the weakness of the American currency in the overseas market and positive domestic equities. Read further on Dynamite News:
The rupee appreciated 19 paise to 82.94 (provisional) against the US dollar on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment. Read further on Dynamite News:
The rupee depreciated 7 paise to 81.95 against the US dollar in early trade on Wednesday, tracking elevated level of the American currency against major rivals overseas as well as higher crude price. Read further on Dynamite News:
Bangladesh is all set to settle trade with India in Rupee from Tuesday, a move to cut their reliance on the American currency, which was involved in nearly 90 per cent of global forex transactions in 2022, The Daily Star reported. Read further on Dynamite News:
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