Free Press Journal
  • 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

  • petrol price hike, petrol price, K R Sudhaman, GDP, economy

    Petrol, diesel prices at highest-ever levels after fall in rupee

    New Delhi: Petrol and diesel prices in the country touched their highest levels Monday mainly due to dramatic fall in rupee and a sharp rise in crude oil rates. Petrol price in Delhi rose to a record Rs 79.15 a litre and diesel climbed to a fresh high of Rs 71.15, according to price notification of state-owned fuel retailers.

  • 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

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

    Rupee dives to new closing low of 70.16 vs US dollar

    Mumbai: The Indian rupee today retreated sharply to hit a record closing low of 70.16 against the US dollar, plunging by 25 paise despite a huge rally in equities amid easing worries over near-term monetary policy tightening by the US Fed. Indian equity benchmarks Sensex and Nifty today scaled new peaks and logged their best single-day gains in nearly five months, tracking positive global cues as investors took heart from the US Federal

  • SBI expects Q1 GDP growth at 7.7 pc

    New Delhi: The country’s GDP is expected to grow by 7.7 per cent in the April-June quarter on the back of pick up in leading indicators like cement production, sale of vehicles and bank credit, a report by SBI said. SBI has based its assessment on its Composite Leading Indicator (CLI), which takes into account 18 major macro-economic indicators. “The CLI is signalling that the economic activity for Q1 FY19 has picked up

  • 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.

  • The meaning of the falling Rupee at 70

    When the exchange rate between the US dollar and the Indian rupee crossed 70, the headlines screamed “the rupee hits an all time low”. There is melodrama in such headlines, mostly fuelled by the rhetoric of political parties. It is implied that when the rupee “weakens” against the dollar, it is a loss of national prestige and of economic power. Perhaps, even the word “weakens” is a giveaway. For how can a

  • India’s oil import bill to jump by USD 26 billion on rupee woes

    New Delhi: India’s crude oil import bill is likely to jump by about $ 26 billion in 2018-19 as rupee’s free fall has made buying of oil from overseas even costlier. Besides, the rupee hitting a record low of 70.32 to a US dollar will also lead to a hike in the retail selling price of petrol, diesel and cooking gas.

  • Rupee moving towards its natural value: NITI Aayog

    New Delhi: As rupee continued to fall to new record lows on Thursday, NITI Aayog Vice Chairman Rajiv Kumar said the Indian currency was overvalued and is moving towards its real value, and that it will not hurt the Indian economy.

  • 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 stable at 68.54 vs USD ahead of RBI policy outcome

    Mumbai: The rupee recovered from early losses, trading steady at 68.54 against the American currency in late morning deals ahead of key RBI policy decision due later today. The rupee inched a tad lower at 68.55 from yesterday’s closing level of Rs 68.54 at the interbank foreign exchange market here.

  • Nothing to panic on the economy

    For the first four years of his term, the rupee was stable, global oil prices moderate, foreign funds  poured into debt and equity markets and investment projects, and inflation was more or less under control while the twin deficits were cause of not much concern. No longer, though. Now that Modi is in the penultimate year of his five-year term, and a tough parliamentary election lies ahead next year, things on the

  • Behind weak rupee is a vulnerable external sector

    The Indian Rupee is falling. We are within striking range of Rs 70 to the US dollar. In intraday trade, the currency touched an all-time low of Rs 69.10 in the last week of June. The nosedive has raised alarm as the rupee becomes the worst performer among currencies. There are many questions from every corner and some answers from Union Minister Piyush Goyal, who has cited “external factors” for this fall.

  • Indian rupee’s plunge to all-time low

    The Indian rupee’s plunge to an all-time low of 69.09 against the US dollar, compared to the previous low of Rs 68.865 in November 2016 reflects the ill-effects of US President Donald Trump’s disastrous economic policies on the world at large. Indeed, American protectionism through higher import duties coupled with the consequences of renewed US sanctions against Iran is indeed playing havoc with economies across the world. That the rupee has fallen

  • After touching all-time low, rupee ends at 68.79 per dollar

    Mumbai: The Indian rupee ended at 68.79 per dollar on Thursday, after reaching an all time low earlier in the day. It ended 18 paise weaker than the previous close of 68.61 per dollar, data from the website of Foreign Exchange Dealers Association of India showed. Earlier in the day it touched an all time low and breached the 69 per dollar mark, due to high crude oil prices and weak macro-economic fundamentals.

  • Rupee sinks to record low vs US dollar, breaches 69-mark

    Mumbai: The rupee collapsed to a lifetime low of 69.10 against the US dollar by plunging 49 paise in early trade today as rising crude oil prices deepened concerns about the country’s current account deficit and inflation dynamics. Consistent dollar demand from banks and importers, mainly oil refiners, following higher crude oil prices kept the rupee under pressure.

  • Rupee touches 19-month low, ends at 68.61 per dollar

    Mumbai: Weakening for the third consecutive day, the Indian rupee touched a 19-month low of 68.70 per dollar on Wednesday due to rising crude oil prices and the ongoing trade war concerns.

  • Troubling free fall of the Rupee

    The Rupee has been sliding lately. The price of the Rupee was hovering around Rs 64 to a US Dollar for the last few years. Recently, it has slid to Rs 67 and analysts expect it to further decline to about Rs 70 to a Dollar. The price of the Rupee is determined in our foreign exchange market. It is similar to how the price of potato is determined in the weekly

  • Rupee rebounds by 8 paise in early trade

    Mumbai: The rupee strengthened by 8 paise to 66.79 against the dollar in early trade today on fresh selling of the US currency by exporters and banks amid higher opening in the domestic equity market.  Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against some currencies overseas propped up the rupee.