Rupee struggles: RBI will have to raise interest rates at least two more times to shore up currency, say investors
The rupee has been punished for the country’s widening trade gap and swept into the broader emerging market turmoil caused by rising US interest rates and an escalating US-China trade conflict. It is Asia’s worst performing currency this year.
Govt announces 5 steps to curb rupee depreciation, widening current account deficit; PM Narendra Modi reviews economy
The government on Friday announced an array of steps, including removal of withholding tax on Masala bonds, relaxation for FPIs, and curbs on non-essential imports, to contain the widening CAD and check the rupee fall.
Rupee not to go in for free-fall as RBI raising interest rate to avoid inflation, says former central bank governor Raghuram Rajan
The rupee crashed below the 72-mark to end at a life-low of 72.45 against the US dollar on growing fears of contagion from an emerging-market rout and escalation of a global trade war.
After the rupee hit 68.85 in summer of 2013 following the taper tantrum talks by the US Fed, the RBI was forced to launch the maiden NRI bonds and mopped up $30 billion with a three-year maturity
Rupee may fall to 70 against dollar this week, say bankers; rising oil prices, strengthening US currency to blame
Analysts said trade war between China and the US is putting pressure on all the Asian currencies, but rupee is the worst hit so far.