FOREX TradingCharts.com

Forex News: Indian Rupee Sinks To Record Low Against Dollar

Indian Rupee Sinks To Record Low Against Dollar After RBI Keeps Rate Unchanged

10/05/2018 - 06:18:00 (RTTNews)

(RTTNews) - The Indian rupee breached the 74 mark against the U.S. dollar in evening deals on Friday, touching an all-time low, after India's central bank kept its key benchmark rates unchanged unexpectedly after tightening the policy at the previous two meetings.

The six-member Monetary Policy Committee of the Reserve Bank of India decided to maintain the repo rate at 6.50 percent. The reverse repo rate was retained at 6.25 percent.

Five members of the MPC including Governor Urjit Patel voted in favor of keeping the policy rate unchanged, while Chetan Ghate sought a quarter-point rate hike.

The bank noted that oil prices remain vulnerable to further upside pressures and volatility in global financial markets continues to impart uncertainty to the inflation outlook.

The rupee lost 1.1 percent against the dollar, crashing to a historic low of 74.32. This follows a 2-day high of 73.48 touched when Indian marked opened for trading. The rupee had finished Thursday's trading at 73.79.

So far this year, the currency has fallen almost 15.8 percent against the greenback.

Indian markets also fell, with the benchmark BSE Sensex falling 792.17 points or 2.25 percent to 34,376.99, while the broader Nifty index was down 282.80 points or 2.67 percent at 10,316.45.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Turkish Lira At 8-day Low Versus U.S. Dollar On Turkey Political Worries (01 hr(s), 49 min(s), 29 sec(s) ago)
(RTTNews) - The Turkish Lira lost ground against the U.S. dollar in the European session on Tuesda ...Full Story»

Yen Advances Amid Risk Aversion (03 hr(s), 25 min(s), 29 sec(s) ago)
(RTTNews) - The Japanese yen traded higher against its major counterparts in the European session ...Full Story»

Euro Falls After German PPI (06 hr(s), 28 min(s), 28 sec(s) ago)
(RTTNews) - Following the release of German producer prices for September at 2:00 am ET Tuesday, t ...Full Story»

Euro Steady Ahead Of German PPI (06 hr(s), 37 min(s), 29 sec(s) ago)
(RTTNews) - At 2:00 am ET Tuesday, Destatis releases German producer prices for September. Ahead o ...Full Story»

Dollar Holding Gains On Light Data Day (19 min(s), 31 sec(s) ago)
(RTTNews) - The dollar is rising against all of its major rivals Monday afternoon. The lack of U.S ...Full Story»

Loonie Little Changed After Canada Wholesale Sales (01 min(s), 31 sec(s) ago)
(RTTNews) - Following the release of Canada wholesale sales for August at 8:30 am ET Monday, the l ...Full Story»

Loonie Mixed Ahead Of Canada Wholesale Sales (04 min(s), 29 sec(s) ago)
(RTTNews) - At 8:30 am ET Monday, Canada wholesale sales for August are due. Ahead of the dat ...Full Story»

Pound Drops On Brexit Concerns (22 min(s), 29 sec(s) ago)
(RTTNews) - The pound fell against its major counterparts in the European session on Monday, after ...Full Story»

Search

FOREX NEWS

Turkish Lira At 8-day Low Versus U.S. Dollar On Turkey Political Worries

10/23/2018 - 06:42 AM (RTTNews)
(RTTNews) - The Turkish Lira lost ground against the U.S. dollar in the European session on Tuesda ...Full Story>>

Yen Advances Amid Risk Aversion

10/23/2018 - 05:08 AM (RTTNews)
(RTTNews) - The Japanese yen traded higher against its major counterparts in the European session ...Full Story>>

Euro Falls After German PPI

10/23/2018 - 02:06 AM (RTTNews)
(RTTNews) - Following the release of German producer prices for September at 2:00 am ET Tuesday, t ...Full Story>>

Euro Steady Ahead Of German PPI

10/23/2018 - 01:56 AM (RTTNews)
(RTTNews) - At 2:00 am ET Tuesday, Destatis releases German producer prices for September. Ahead o ...Full Story>>

Dollar Holding Gains On Light Data Day

10/22/2018 - 14:53 PM (RTTNews)
(RTTNews) - The dollar is rising against all of its major rivals Monday afternoon. The lack of U.S ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.