Rupee holding ground amid strengthening U.S. dollar: FM
Rupee will find its own level, says Nirmala Sitharaman
Rupee will find its own level, says Nirmala Sitharaman
The rupee opened at 82.68 against the US dollar at the interbank foreign exchange.
This is the fourth consecutive session of loss for the domestic currency.
RBI on Monday put in place an additional arrangement for invoicing, payment, and settlement of exports and imports in the Indian rupee.
Nomura expects the Indian rupee to fall to 82 against the dollar by the third quarter of 2022.
The rupee tumbled against the dollar to settle at a historic low of 78.40 against the US dollar.
The local currency plunged 36 paise to a lifetime low of 78.29 against the US dollar.
The local currency opened at 77.56 against the US dollar and hit an all-time low of 77.58 versus the greenback.
The rupee opened at 77.17 against the US dollar at the interbank foreign exchange.
Kedianomics CEO Sushil Kedia explains a technical analysis of INR vs USD on why he believes the worst is over for the Indian rupee, and that it will only strengthen to 72 at least, if not 68.