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 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.
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.
India's foreign exchange reserves declined by USD 4.472 billion in the week that ended November 21 to USD 688.104 billion, driven by a slump in both foreign currency assets and gold reserves, the Reserve Bank of India's latest 'Weekly Statistical Supplement' data showed.
The Indian rupee vis-a-vis the US dollar is currently trading in a tight range, under pressure from a mix of domestic strength and external challenges, including US tariffs and persistent capital outflows.
The Indian Rupee may continue to weaken gradually and inch towards the psychological level of 90 per US dollar by March 2026, highlighted a report by Union Bank of India.
India's foreign exchange reserves declined by USD 2.699 billion in the week that ended November 7 to USD 687.034 billion, driven by a slump in both foreign currency assets and gold reserves, the Reserve Bank of India's latest 'Weekly Statistical Supplement' data showed.
India's foreign exchange reserves declined by USD 6.925 billion in the week that ended October 24 to USD 695.355 billion, driven by a slump in both foreign currency assets and gold reserves, the Reserve Bank of India (RBI) latest 'Weekly Statistical Supplement' data showed.
The medium-term outlook for the Indian rupee remains tilted to the downside unless there is relief from the persistent twin deficit, current account and fiscal deficit, according to a report released by Union Bank of India.