- Tag results for Rupee
According to a report, since denominations of Indian Rupee higher than Rs 100 is not legalised in the country, the government has asked the people to refrain from keeping or carrying such notes.
Forex traders said strengthening of the US dollar against some currencies overseas and caution ahead of RBI central board meeting under new Governor Shaktikanta Das, weighed on the local unit.
After the new RBI governor Shaktikanta Das took charge, a higher opening of domestic equity markets boosted the Indian currency.
At the Interbank Foreign Exchange, the rupee opened weak at 72.10 against the US dollar, then depreciated further to 72.17, showing a decline of 32 paise over its previous closing.
Amid state election results and resignation of RBI Governor Urjit Patel, the rupee opened weak at 72.42, showing a sharp plunge of 110 paise over its previous closing price.
After a positive increase in the value of rupee on Friday, the greenback strengthened as its demand increased.
The rupee was depreciating from the start of this week until the greenback weakened against some currencies.
State-owned UCO Bank is expected to announce the payment mechanism in the next 10 days, says a source
The greenback has been strengthening from the start of this week ever since global crude oil prices increased.
According to forex dealers, fresh demand of the greenback from importers proved negative for the Indian currency.
The Indian currency started depreciating from Monday ever since an increase in crude oil prices.
The State Bank of Pakistan has indirectly devalued the state-managed unit several times already as it tries to narrow a huge balance of payments deficit.
At the interbank forex market, the rupee opened higher at 69.68 and rose further to quote at 69.64, showing a rise of 21 paise over its previous close.
The rupee jumped 74 paise to breach the 70 per dollar mark and touched 69.88 -- a three-month high -- in intra-day trade amid sustained selling of the greenback by exporters and easing crude oil price