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Indian rupee at Rs 79.36 against USD, gold touches Rs 54K

  •   Wed, Jul 06 2022 10:40:29 AM

Chennai, Jul 6 (IANS): The Indian rupee on Tuesday hit a low of Rs 79.36 against the US dollar and experts expect further depreciation.

In a research report, Kotak Securities said the dollar will touch Rs 80 in the near term.

Kotak Securities said the widening trade deficit, narrowing of interest rate differentials, and Reserve Bank of India's foreign exchange intervention strategy (sell spot along with buy-sell swaps) leading to a collapse in forward premiums, led to relatively sharp depreciation in the rupee recently.

Citing the uncertainty in the global macro environment, the report said the Indian rupee is likely to be under pressure, especially if crude prices remain elevated and global growth slows down.

On the other hand, the price of 24 carat gold touched Rs 54,000 per 10 grams on Tuesday.

 
  

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Comment on this article

  • peace for all, jeddah

    Wed, Jul 06 2022

    The promise was 1USD = 15 Rupees! Now close to 80 The promise was Patrol in 35 Indian Rupees and now 100+ The promise was Cooking gas cylinder @ 300+, but now it is1000+ The promise was 2 Crore jobs per year, the current sitiuation is 11 crore jobless. The promise was to bring blackmoney and distribute @ 15 lacs per individual, but seen an increase from 899 million swiss franks to 2.55 billion swiss franks ( almost three times) Inspite of all blunders, they are conteniously beating the trumpet of development.

    DisAgree [1] Agree [4] Reply Report Abuse

  • Althaf, Udupi/Kaup

    Wed, Jul 06 2022

    This article reminds me Out Great Mr.Nalin kumar!!!!

    DisAgree Agree [8] Reply Report Abuse

  • Althaf, Udupi/Kaup

    Wed, Jul 06 2022

    I have one problem with indian currency notes. In entire world only in india we have different colors and sizes of same denomination notes. Why cant govt keep single notes for each denominations ?? We have almost 3 to 4 types of 10 rupess notes, 3 types of 5 rupees, 3 types of 100 rupees notes....Its so confusing also on top of that we have coins of same notes like 5 rupees, 10 rupees etc... seriously i guess our PM or FM doesnt not use notes thats why they dont care this.

    DisAgree [1] Agree [8] Reply Report Abuse

  • francis lobo, Mangalore

    Wed, Jul 06 2022

    Financial analysts were predicting Rs will be at 80 in December. But it almost reached 79.3 today. So the day is not far. Now the revised estimates are 82 by December. Thank you Modiji as we can get more foreign remittances and will ease BOP. This will be a windfall to IT companies

    DisAgree [2] Agree [8] Reply Report Abuse

  • Evans C Sumitra, Udupi/New York, USA.

    Wed, Jul 06 2022

    This was expected sooner or later. What goes down comes up.

    DisAgree [1] Agree [9] Reply Report Abuse

  • Moshu, Mangaluru

    Wed, Jul 06 2022

    Doesn't matter we need the regime which torure minorites.

    DisAgree [9] Agree [17] Reply Report Abuse

  • Roshan, Mangaluru

    Wed, Jul 06 2022

    Lie detector test. You guys know who lied and who didn't. Beliving in liars and making them superhumans, is dangerous to nation. Its the call people who got to take now. As things have reached already close to non-retrivable end.

    DisAgree [3] Agree [16] Reply Report Abuse

  • Oz, Muscat

    Wed, Jul 06 2022

    Its refreshing when Modi comes to power dollar rates will be 40 its also refreshing to know that sab jumla hey

    DisAgree [5] Agree [18] Reply Report Abuse


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