Sources from Mumbai stated that the rupee weakened further to hit a fresh low of 72.64 against the US currency, falling 91 paise in late morning deals on Monday on rising crude oil prices, strengthening dollar and a widened current account deficit. Previously as per report the rupee resumed slightly lower at 72.18 against last Friday's closing level of 71.73 a dollar at the Interbank Foreign Exchange here. Meanwhile the domestic unit witnessed intense volatility and traded between 72.07 and hit all time low of 72.64 during morning deals.
According to RBI data released Friday it was reported that India's current account deficit (CAD) widened to USD 15.8 billion in April-June in value terms this year as against USD 15 billion in the same quarter of 2017-18, mainly due to a higher trade deficit. Furthermore a dealer said the domestic macro situation and dollar's strength amid fear of currency crisis continued to spook the rupee.
Further overseas, the US dollar edged higher against a basket of
currencies in early Asian trade on strong US August jobs data and fears of an
escalation in the China and US trade conflict. Meanwhile, the 30 share BSE
Sensex is trading lower by 238.01 points, or 0.62% at 38,151.81 at 1055 hrs.
Trump cancelled his own participation in Davos, citing row over his proposed wall Washington sources reported that President Donald Trump on Thursday cancelled the US delegation's trip to the annual international conference at Davos, saying the officials were needed in Washington to tackle the shutdown of the federal government. A statement from Press Secretary Sarah Sanders said "Out of consideration for the 800,000 great American workers not receiving pay and to ensure
- Telangana & AP extended time limit for interstate transfers
- Trump coming out with reforms giving H-1B visa holders certainty to stay in US
- SC appoints Ombudsman for Hardik & Rahul comments
- Rakesh Asthana ousted from CBI!
- TASMAC surpasses Petta!
- Congress MP's trolls Amit and gets criticism!
- World's top four Richest Celebrity list with their individual net worth
- RBI Governor to cut Interest Rates
- PhonePe seen a remarkable growth in 2018 in offline business
- Vijayashanthi questions Why TRS shows fake statements
- SC orders protection for counterfeit travelers in Sabarimala issue
- Boxing Legend Muhammad Ali name for US Airport
- Reliance Jio Net Profit jumped to 65%
- Arun Jaitley to increase Income Tax Slabs Tax Rate
- Ola Money Postpaid offers a 15 day credit line to passengers