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.
Can KCR win Elections by doing Yagams & Homams alone? According to sources as polls are due in December in Telangana, election fever seems to have gripped KCR. Meanwhile in order to win the elections, CM KCR has performed a special Yagam. Recently KCR and wife Shobha have performed Raja Shyamala Chandi Homam at KCR's Erravelli farmhouse yesterday and it is learnt that the Raja Syamala Chandi Homam is performed for victory.
- Will Sharmila Jagan contest from Hyderabad?
- Sonia Gandhi to address a Public Meeting in Telangana on November 23
- Today is the Last day for filing nominations for Telangana Assembly Elections
- Superstar warns against ticket rates!
- Sasikala to come out on parole?
- Chief Minister Visit canceled!
- Schools, Colleges announced Holiday
- Will H1-B Visa Holders to split Families?
- DeepVeer to hosts 2 Wedding Receptions
- Death toll in Tamilnadu due to Cyclone Gaja rose to 33
- NASA's Kepler space telescope to disconnect communication with Earth
- Mike Hussey feels Hardik Pandya's absence is greatest disappointment
- Anna University Exams postponed to December 13, 14 due to Cyclone Gaja
- Mobile app to track air pollution developed by Delhi students
- PM Narendra Modi campaigned at Chhattisgarh