Rupee weakens
The rupee weakened further against the dollar in the interbank market on Tuesday, as the central bank continued to shy away from intervention in the currency market, dealers said. In the interbank market, the rupee closed at 128.26/dollar after hitting an all-time low of 128 on Monday. “The currency fell further in a choppy trade today. It was trading between 128 and 128.50,” a dealer said. Traders expect the current trend of declining rupee to continue in the period ahead. The SBP believes an adjustment in the exchange rate along with the increased policy rate and other administrative measures would help contain domestic demand, in general, and reduce the imbalances in the external accounts, in particular. In the open market, the rupee ended marginally higher at 128.70 against the dollar as compared to 128.75 in the previous session.
-
Billie Eilish Slammed For Making Political Speech At Grammys -
Beverley Callard Announces Her Cancer Diagnosis: 'Quite Nervous' -
WhatsApp May Add Instagram Style Close Friends For Status Updates -
Winter Olympics Officially Open In Milan, Cortina With Historic Dual Cauldron Lighting -
Sciences Reveals Shocking Body Response Against Heart Attack -
Who Is Charlie Puth? Inside Awards, Hits & Journey Of Super Bowl Anthem Singer -
Jared Leto 'swings For The Fences' In 'Master Of The Universe'? -
Kelsea Ballerini, Chase Stokes Not On Same Page About Third Split: Deets -
Shanghai Fusion ‘Artificial Sun’ Achieves Groundbreaking Results With Plasma Control Record -
Princess Anne Enjoys Andrea Bocelli, Lang Lang Performances At Winter Olympics Opening Ceremony -
Ben Stiller Cherishes Working With Late David Bowie -
Anti-inflammatory Teas To Keep Your Gut Balanced -
Polar Vortex ‘exceptional’ Disruption: Rare Shift Signals Extreme February Winter -
Which Countries Are Worst And Best In Public Sector AI Race? -
Matthew McConaughey Opens Up About His Painful Battle With THIS -
Emma Stone Reveals She Is ‘too Afraid’ Of Her ‘own Mental Health’