As per latest report the cause of this fall has been attributed to fears over a rise in global protectionist measures, along with a strong US economy. Accordingly this is the steepest fall for the Indian rupee since September 2013. Meanwhile the rupee has been on the down slide since the beginning of this year and has slipped around 9% in 2018. Moreover the ongoing currency turmoil in Turkey has dampened investors' sentiments globally and presently investors are turning to the dollar as a safe haven with Turkey’s currency lira crisis continuing since the last week.
Furthermore yesterday around 11 am, the rupee plunged to Rs 70.08 to a US dollar. However, soon afterwards, the Reserve Bank of India (RBI) is said to have intervened in the open market to curb the rupee's free fall. Meanwhile the intervention aided the rupee stabilize just a tad below 70 to a USD at 69.98 around 11.05 a.m.
Secretary Subhash Chandra Garg told news agency told "There is nothing to
worry at this stage and the rupee is depreciating due to external factors which
may ease as we go forward”. Further the reports suggest heavy sell-off in
global currencies, including Turkish lira, fuelled demand for
safe-haven assets and caused the rupee to nosedive.
Is Tamilnadu a Garbhagriha if India is a Temple Chennai sources made a statement that Tamilnadu created many spiritual leaders including those from Jains to serve the people. Meanwhile this was also the objective of the late chief minister J. Jayalalitha, who had taken a political path. Accordingly Chief Minister Edappadi K. Palaniswami said in Acharya Shree Mahashraman Chaturmas Pravas Vyavastha Samiti held in the city, on Saturday. “Jain saints and late Chief Minister J. Jayalalitha converge on same ideals”.
- GST Council reduces tax rates
- Kollywood Actors pitch in for Cyclone Gaja
- Why Pawan halted his Praja Porata Yatra abruptly & left to Mumbai?
- California Wildfire death toll Rose to 80
- What astrologers say various political entities in Telangana elections 2018?
- Andhra Man found under Moving Train, Escaped miraculously Watch this VIDEO!
- PM Narendra Modi inaugurated Kundli-Manesar-Palwal (KMP) Expressway in Gurgaon
- Telangana Polls : TRS Vs Mahakutami - Ramana promises Mahakutami will bring down KCR family
- Revanth Ready set to score a hat-trick this time
- Dog meat controversy catches fire!
- CM yet to visit Delta - The reasons?
- People surround ministers in Orathanadu!
- Rain warnings for Delta districts!
- Not mandatory to provide Aadhaar to appear for Neet, UGC & CBSE exams
- TN DMK Party contributes 1 crore towards Cyclone relief activities