Chaudhary s comments come after the rupee hit a new all-time low of 83.41 per dollar on December 13. Since then, the Indian currency has gained some ground and was even trading in the sub-83 per dollar territory early on December 18
The rupee hit 80 per dollar for the first time ever on Tuesday, after breaching a series of all-time lows and falling over 7 per cent this year from about 74 at the start of 2022, tracking a rampant greenback. What does that rapid rupee weakening mean for you?
India's foreign exchange (FX) reserves fell for the sixth straight week, by $311 million in the April 15 reported week to $603.694 billion, according to the Reserve Bank of India data on Friday.
Rupee goes from Asia’s best to worst in two weeks on Covid spike
April 15, 2021
The double-digit growth comes after eight quarters of either decline or single digit growth. - Getty Images/iStockphoto
The double-digit growth comes after eight quarters of either decline or single digit growth. - Getty Images/iStockphoto×
The rupee weakened past 75 per dollar for the first time in eight months this week
The Indian rupee has turned into Asia’s worst-performing currency from being the best in the previous quarter. It’s poised for more losses as a resurgence in coronavirus cases to a record threatens to hamstring the economy.