The recent depreciation in the Indian Rupee is unlikely to have any significant impact on CPI inflation in the country, as India has a low dependence on imports for food products, highlighted a report by Bank of Baroda.
The rupee has fallen from Rs 85 to Rs 90 per USD in under a year, far quicker than previous five-rupee intervals, which earlier took anywhere between 581 to 1,815 days. SBI in its report noted this as the second-quickest fall since the 2013 Taper Tantrum.
Congress leader Priyanka Gandhi Vadra on Thursday slammed the central government and asked what their take is on the Dollar's value, which was high during the Manmohan Singh government.
The global fintech platform Pine Labs reported a profit of Rs 6 crore in the second quarter of FY26, marking a strong turnaround from a loss of Rs 32 crore during the same quarter last year.
Tewari said that during the time of the UPA leadership, the BJP had mocked the government for the falling rate, with BJP spokesperson Ravi Shankar Prasad saying in 2013, "The worth of the Indian rupee against the dollar was equivalent to Rahul Gandhi's age when the United Progressive alli
Congress leader Salman Khurshid on Wednesday said the recent fall of the Indian rupee, which breached the 90 mark against the US dollar, reflects the impact of US sanctions and tariffs.
Union Commerce and Industry Minister Piyush Goyal on Wednesday said the Indian economy remains on a solid footing, saying the country has seen the lowest-ever inflation in the last few months and foreign exchange reserves continue to be strong.
The Indian rupee plunged to an all-time low against the US dollar on Wednesday, crossing the psychologically significant 90 mark amid foreign fund outflows. The development came amid firm crude oil prices and perceived uncertainty around the India-US trade deal.
Indian equity indices ended Wednesday in negative territory, possibly due to the rupee's weakness against the US dollar, Foreign Institutional Investor (FII) outflows, and ongoing trade uncertainties.
India's Chief Economic Advisor V Anantha Nageswaran on Wednesday, downplayed concerns over the rupee weakening past 90 against the US dollar, asserting that the currency's movement remains within manageable limits and has not created macroeconomic stress.
The Indian rupee's recent depreciation against the dollar is temporary and will reverse once India concludes a trade agreement with the United States, according to Anant Goenka, Vice Chairman of RPG Group and President of the Federation of Indian Chambers of Commerce and Industry (FICCI).
Indian rupee breached the 90 mark against USD on Wednesday morning, extending its depreciation run through sessions now, and in the process hitting a fresh all-time low for the Indian currency.