MENU

Published on 7/04/2021 4:33:34 PM | Source: Reuters

Rupee loses 1.5% in biggest single-day fall for 20 months

Posted in Currency News| #Rupee #Currency News

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

MUMBAI - The Indian rupee lost 1.5% on Wednesday, suffering its biggest single-day fall in 20 months as the central bank mapped out plans for a massive government bond buying programme.

The partially covertible rupee ended at 74.55 per dollar versus its previous close of 74.43, marking the biggest daily fall since Aug. 5 2019. Earlier, the rupee touched 74.5550, its weakest since Nov. 17.

The Reserve Bank of India (RBI) kept interest rates at record lows on Wednesday but its commitment to a massive government bond purchase programme raised prospects of plenty of rupee liquidity, and potential inflation, both of which undermined sentiment toward the currency.

"The forex market wasn't expecting such a dovish stance and rupee got set on fire," said Rahul Gupta, head of currency research at Emkay Global Financial Services, who now expected the exchange rate to trade between 73.50-74.50 rupees per dollar.

marsbahis marsbahis marsbahis marsbahis
1xbet 1xbet bahisno 1 bahsegel slot oyna ecopayz güvenilir bahis siteleri canlı bahis siteleri iddaa marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis restbet canlı skor süperbahis mobilbahis
bahigo bahis siteleri güvenilir bahis siteleri kaçak bahis siteleri betist