Indiaherald Group of Publishers P LIMITED

close save
crop image
Sat, Feb 16, 2019 | Last Updated 8:47 pm IST

Menu &Sections


Indian rupee recovered by 50 paise to 72.19 per US dollar

Indian rupee recovered by 50 paise to 72.19 per US dollar
Indian rupee recovered by 50 paise to 72.19 per US dollar

As per report likely intervention by the country's central bank along with expectations of possible policy measures to curb currency fluctuations aided the Indian rupee to recover on Wednesday from its new record low of 72.91 to a US dollar. Meanwhile the recovery was accelerated after reports stated that Prime Minister Narendra Modi may hold a meeting this weekend to take stock of the country's economy. Furthermore on a closing basis, the Indian rupee recovered by 50 paise to 72.19 per US dollar against its previous close of 72.69 per greenback.

Accordingly the concerns over a rise in inflation rate, growing protectionism in global trade and an outflow of foreign funds from the country's equity market had subdued the Indian currency during the morning trade hour at the Inter-Bank Foreign Exchange Market. Furthermore the Indian rupee touched a fresh low of 72.91 and its previous record low was 72.74 made on Tuesday.

Indian rupee recovered by 50 paise to 72.19 per US dollar

Anindya Banerjee, Deputy Vice President for Currency and Interest Rates with Kotak Securities, told "Rupee recovered after comments from MoF (Ministry of Finance) officials about a possible meeting at PMO over the steps to tackle rupee depreciation. Dollar Rupee declined from 72.91 to 71.91 in a short span of time". Moreover according to Madhavi Arora, Economist, FX and Rates at Edelweiss Securities "INR's effective reaction beyond the knee-jerk today will depend on the severity of measures adopted by the policymakers."

Indian rupee recovered by 50 paise to 72.19 per US dollar
5/ 5 - (1 votes)
Add To Favourite
More from author
BJP to make alliance announcement soon: Piyush Goyal
Priyanka Chopra, Nick had great time on Valentines Day
Dewan Housing Finance shares slumped to an intraday low of Rs. 103.95
Ooty Lake to be cleaned soon
Air India flights to Iraq begins operations after 30 years
Dhanush congratulated Sai Pallavi for beating her own record saying 200 Million
Protest shutdown against terror attack affects life in Jammu
Telangana Municipalities good news for Families below poverty line
CRPF Jawans victimized in Jammu & Kashmir
Surprise Gift to Rahul Gandhi on Valentines Day
 2 alliances in India, one under Rahul Gandhi and a 'gatbandhan' which has no leader: Amit Shah
Arya & Sayyeshaa getting engaged to each other
Dinesh Karthik reveals reason for loss!
Forest department eyeing Chinnathambi!
Kamal Hassan praises woman!
Captain Vijayakanth coming soon!
Trump still adds to sources not requiring congressional approval
New inmate into TDP from MLA Nandamuri Balakrishna's Family
Will Anti Corruption Bureau in Delhi be controlled as per instructions from SC?
KCR Govt plans to illuminate Charminar with 190-watt LED light
When will Tamilnadu Districts be upgraded as Corporations?
Know how to hide Caller ID when making call to Uber Driver
Is there any delay in conducting 3rd season of Telugu Bigg Boss?
Election work inspected for Telangana by CEC
Rhode Island Governor lauded Infosys for training its graduates for digital jobs
We worked 100% for upliftment of country: PM Narendra Modi
PM Narendra Modi's next visit to AP by February end
Deepika Padukone's gift to Ranveer on Valentine's Day
Girl molested by Facebook friend!
Opposition attacking centre!
Vaiko in tears on stage!
Hindu Munnani warns lovers!
Jeff Bezo's Private messages to Lauren Sanchez leaked
Namrata said that Mahesh has no time for politics
Telugu actor Sivaji says he not affiliated to any party in AP
PM Narendra Modi served Food for Children at Akshay Patra foundation in Vrindavan
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.