Free Press Journal
  • Rupee recovers 28 paise against US dollar in early trade

    Mumbai: The rupee Wednesday rebounded from its all-time low by rising 28 paise to 72.70 against the US dollar in early trade at the Interbank Foreign Exchange market on fresh selling of the US currency by exporters and banks. Besides, dollar-selling by exporters and banks, easing crude prices in the global market and weakness in the dollar against other currencies overseas, helped the domestic currency rebound, forex dealers said.

  • BJP can’t afford not to relent on oil prices

    The crisis on the oil front is unmistakably serious but there are redeeming features which make it look less serious than it did in 1991 when foreign exchange reserves were sufficient for only a few weeks’ imports and in 2008 in the wake of the Lehman Brothers’ collapse and the global financial crisis.

  • Rupee recovers 10 paise against US dollar in early trade

    Mumbai: After a weak start, the rupee Tuesday recovered 10 paise to 72.41 against the US dollar amid volatility in early trade on fresh selling of the US currency by exporters and banks. The rupee, after opening lower at 72.65 against the US dollar, quickly recovered to trade 10 paise higher at 72.41 at the Interbank Foreign Exchange.

  • Falling rupee, soaring oil prices & rising worries

    It’s been a waterfall like slide for the rupee against the US dollar over the past few months. Last week, the rupee crashed below the 72-mark to end at a life low of 72.69 against the US dollar on growing fears of a rebound in oil prices and escalation of global trade war. The domestic currency’s previous all-time closing low was 68.73, touched on November 24, 2016.  Earlier in June, when the

  • Rupee again breaches 72-mark, down 81 paise in early trade

    Mumbai: The rupee depreciated 81 paise to 72.65 against the dollar in early trade Monday at the forex market, despite the government’s steps to stem a steep fall in the currency, amid reports that the US could announce a new round of tariffs on Chinese imports later in the day.

  • Grapple with the rupee & oil but don’t panic

    The big news this week was on two key prices. One is the price of the almighty dollar, and the other is the price of petrol (or diesel). These two are the most important price signals in the economy.  And both are of imported items. India has a huge shortage of oil since domestic supplies meet barely one fifth of our requirement. We also have a perennial shortage of dollars, because what

  • Rupee sinks to new low of 72.91, drops 22 paise against US dollar

    Mumbai: The rupee Wednesday collapsed to a lifetime low of 72.91 against the dollar at the interbank foreign exchange market. The domestic currency was quoting 22 paise lower at a fresh record low of 72.91 against the US dollar in morning trade amid surging crude oil prices and uanabated foreign fund outflows.

  • Rupee recovers 15 paise against US dollar in early trade

    Mumbai: The rupee Tuesday opened on a positive note by inching 15 paise higher at 72.30 against the US dollar amid increased selling by banks and exporters. Besides, dollar’s weakness against some currencies overseas including the euro also supported the rupee, dealers said. The rupee on Monday slumped to new record low of 72.67 a dollar in intra-day trade before closing at 72.45, showing a steep 72 paise fall on growing fears of

  • Rupee hits lifetime low of 72.18, drops 45 paise against US dollar

    Mumbai: The rupee on Monday slumped to a fresh record low of 72.18 by falling 45 paise against the US dollar on strong demand for the US currency from importers as the greenback strengthened against other currencies overseas on upbeat jobs data.

  • Why rupee is sliding?

    The rupee has declined from Rs 64 to a dollar a year ago to Rs 71 presently and is expected to decline further in the coming months. The core reason for this decline is the loss of competitiveness of the Indian economy. Let us say a particular toy is being manufactured in the United States for US $1. The same toy is being manufactured in India for Rs 71. Then the exchange

  • India may have to cough up Rs 685 billion more to repay debt

    Mumbai: The BJP government’s worries have begun to mount: On the one hand, it has slipped badly on the oil slick; on the other hand, the rupee is sliding into a deep abyss. But oil isn’t the only headache for India as the rupee slides, says wire agency Bloomberg. You can add external debt to the list.

  • mid day trade, dollar, dollar rate, editorial, prices, relentless pressure

    Relentless pressure on pump prices

    The rupee slumped further on Tuesday, touching a lifetime low of 71.37 against the dollar, a drop of 16 paise during the mid-day trade. Brent crude oil hovered over $78 a barrel on Tuesday. Petrol in Delhi sold for Rs79.31 a litre and diesel for Rs71.34. Corresponding prices in Mumbai, Chennai and Kolkata were: Rs86.72 and Rs75.74; Rs82.41 and Rs75.39; and Rs82.22 and Rs74.19. In the last one year, petrol prices have

  • Rupee hits new all-time low of 71.37, drops 16 paise against US dollar

    Mumbai: The rupee Tuesday slumped 16 paise against the dollar to trade at a life-time low of 71.37 on strong demand for the US currency. At the Interbank Foreign Exchange, the local currency opened at a record low of 71.24 against a dollar, down from its previous close of 71.21, and weakened further to trade at a fresh low of 71.37, down 16 paise.

  • Rupee slide is big worry

    A two rupee fall in its exchange value with the US$ — say, from Rs 69 to Rs 71 for a $ — may cost the country an additional external payment burden of nearly Rs 1,50,000 crore, in Rupee terms, on account of this year’s total import alone on a cost, insurance and freight (CIF) basis. Going by the current trend, India’s import during 2018-19 is expected to top the US$500 billion

  • Rupee hits 71-mark for first time ever, drops 26 paise against US dollar

    Mumbai: The rupee slumped to a fresh record low of 71 against the dollar for the first time ever by falling 26 paise on persistent demand for the US currency amid rising crude prices. At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 70.95 a dollar and slipped further to hit its lifetime low of 71 from its previous close of 70.74. Forex dealers said besides robust month-end

  • Rupee hits record low of 70.55, drops 23 paise against US dollar

    Mumbai: Continuing its free-fall, the rupee today weakened by another 23 paise against the dollar to trade at a life-time low of 70.82 on strong month-end demand for the US currency amid sustained foreign fund outflows. At the Interbank Foreign Exchange (Forex) market, the local currency opened a tad higher at 70.57 a dollar from its previous close of 70.59 but slipped to hit a fresh low of 70.82, down by 23

  • Rupee rises 24 paise against US dollar in early trade

    Mumbai: Extending its rising streak for the second day, the rupee appreciated 24 paise against the US dollar to 69.58 in early trade today amid weakness in the greenback against other currencies overseas. The American currency witnessed selling by exporters and banks after the US President Donald Trump accused China and Europe of manipulating their currencies and criticised the Federal Reserve for hiking interest rates, forex dealers said.

  • Rupee hits new all-time low of 70.32, plunges 43 paise against USD

    Mumbai: The rupee today slumped 43 paise against the dollar to trade at a life-time low of 70.32 on strong demand for the US currency. At the Interbank Foreign Exchange, the local currency opened at a record low of 70.25 a dollar, down from its previous close of 69.89, and weakened further to trade at a fresh low of 70.32, down by 43 paise.

  • Rupee likely to hit 70-mark this week

    Mumbai : Continued strengthening of the US dollar, lack of foreign investment inflows and concerns over rising oil prices are likely to keep the rupee under pressure and push it down to the 70 mark this week, according to bankers.