Rise in policy rates is not anti-national activity, says former RBI Governor Raghuram Rajan - RBI has maintained status quo on policy rates to support domestic growth. It hiked the inflation projection for this financial year to 5.7% from 4.5%.
The rupee declined 3 paise to close at 76.18 (provisional) against the US dollar on Wednesday, tracking the strength of the greenback in the overseas market and weak domestic macroeconomic data. At the interbank foreign exchange market, the rupee opened lower at 76.15 against the American currency, then slipped further to 76.26. It finally settled at 76.18, down 3 paise over
Indian markets may remain volatile this week, with the Federal Reserve considering raising key interest rates during its meeting on 15 March, as inflation in the US hit a four-decade high. Investors are also concerned over the Russia-Ukraine conflict
The rupee is under pressure: it has fallen 3.5% against the dollar in 2022 and touched record lows. The reason is two-fold: One, the Russia-Ukraine war, and two, the expected hike in US interest rates. Mint examines the state of the rupee.
Indian rupee hits record low at 76.96 against the dollar as crisis in Europe builds - Partially convertible rupee ended at 76.96 against the dollar, just off its record low of 76.97 hit earlier in the session. It closed at 76.16 Friday.