However, higher oil prices, month-end importer demand and global recession fears could restrict the gains for the local unit, forex traders said
At the interbank foreign exchange, the rupee opened at 79.86 against the American dollar. In initial trade, the local currency witnessed a high of 79.81 and a low of 79.87 against the US dollar
The introduction of CBDC was announced in the Union Budget 2022-23, by Finance Minister Nirmala Sitharaman and necessary amendments to the relevant section of the RBI Act,
At the interbank foreign exchange, the rupee opened at 79.83 against the US dollar, then fell to 79.88 against the greenback, registering a decline of 10 paise over the last close
At the interbank foreign exchange, the rupee opened at 79.90 against the US dollar, then fell to 79.92 against the greenback, registering a decline of 7 paise over the last close
At the interbank foreign exchange, the rupee opened at 80 against the American dollar, then lost ground to quote at 80.05, registering a fall of 7 paise from the last close
At the interbank foreign exchange, the rupee opened at 79.73 against the dollar and moved in a narrow range. It touched an early low of 79.79 in initial deals
The rupee recovered 8 paise to settle at 79.91 (provisional) against the US currency on Friday, tracking heavy buying in domestic equities and weakness in the greenback overseas
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a...
While wholesale inflation remained double-digit for 15 straight months to June, expected deterioration in the country's current account deficit and forex...
At the interbank foreign exchange, the rupee opened at 79.20 against the American dollar, then lost ground to quote at 79.25, registering a fall of 12 paise...
At the interbank forex market, the local unit opened at 78.99 against the greenback and fell to an intra-day low of 79.12.
At the interbank foreign exchange, the rupee opened on a weak note at 78.99 against the American dollar, then lost ground to quote at 79.11 -- its all-time low...
On Wednesday, the rupee hit a record low of 79.03 against the US dollar, it has declined nearly 6 per cent since January this year
At the interbank forex market, the local unit opened strong at 77.98 against the greenback and witnessed an intra-day high of 77.87 and a low of 78.03
On Wednesday, the rupee had plunged 18 paise to close at a new all-time low of 78.22
Forex traders said lacklustre domestic markets, elevated crude oil prices and persistent foreign capital outflows weighed on the local unit
In February 2022, Nirmala Sitharaman had announced in her budget speech, the plan to launch the Digital rupee in this financial year
Experts believe that Central Bank Digital Currency (CBDC) can dent the circulation of fake notes as it will be traceable
Besides, persistent foreign fund outflows and elevated crude oil prices impacted the domestic unit, forex traders said.
Digital rupee is likely to cater to the educated and technology-savvy users, but the replacement of extant modes like cash and traditional banking is...
Sitharaman in her Budget speech on February 1 had announced that Digital Rupee or Central Bank Digital Currency (CBDC) would be issued by the RBI in the coming...
Finance Minister Nirmala Sitharaman in her budget speech last week talked about launching a central bank-backed 'Digital Rupee' soon.
Well-placed sources in the government have told Outlook Business that what Nirmala Sitharaman proposed in the Union Budget 2022-23 will be a wallet that will...
He said the central bank digital currency or the digital rupee will make online payments more secure and risk-free and boost the digital economy in the years...
