The Indian rupee will find support in the coming days, buoyed by a weaker US dollar index (DXY) and expectations of strong foreign portfolio investment (FPI) inflows, a report by Union Bank of India (UBI) anticipated.
The foreign exchange companies had removed a cap on the Pakistani rupee-dollar exchange rate. This was a key demand of the IMF as part of a programme of economic reforms it has agreed on with the debt-laden South Asian nation.
New Delhi [India], July 18 (ANI): The recent depreciation in the value of the Indian rupee against the US dollar is due to global factors like the Russia-Ukraine conflict, soaring crude oil prices, and tightening of global financial conditions, the government said in the Lok Sabha on Monday.
Mumbai (Maharashtra) [India], May 9 (ANI): The rupee plunged to a record low of 77.41 against the US dollar on Monday amid persisting high crude oil prices and uncertainty over the duration of the Russia-Ukraine war.
Mumbai (Maharashtra) [India], March 7 (ANI): The Indian rupee plunged to a record low of 77.02 against a US dollar on Monday as a sharp rise in crude oil prices amid the ongoing Russia-Ukraine conflict dampened investors' sentiments.
Mumbai (Maharashtra) [India], March 4 (ANI): The Indian rupee weakened by 22 paise to 76.16 against the US dollar on Friday as a sharp rise in crude oil prices amid the ongoing Russia-Ukraine conflict dampened investors' sentiments.
Bhubaneshwar (Odisha) [India], May 28 (ANI): Petroleum and Natural Gas Minister Dharmendra Pradhan on Monday cited the increase in the cost of crude oil in the international market and the rupee-dollar exchange rate as the primary reason for the recent hike in fuel prices.