Upload
others
View
1
Download
0
Embed Size (px)
Citation preview
EnglishEnglish
தமி�Tamil
�����Bangla
������Malayalam
�हदं�Hindi
मराठMarathi
Follow Us:
Tuesday, October 09, 2018
Sponsored
A Millennial Reveals 5 Secrets To Winning At Life
HomeIndiaWorldCitiesOpinionSportsEntertainmentLifestyleTechnologyViralParentingPhotosVideosAudioePaper
Search for:
Rupee slumps to record low of 74.06 | The Indian Express https://indianexpress.com/article/business/market/rupee-record-low-again...
1 of 7 10/9/2018, 11:55 AM
HomeBusinessMarketRupee slumps to record low of 74.06
Rupee slumps to record low of 74.06
However, the Sensex swung over 660 points both ways on alternate bouts of selling and buying and closed with a gain of 97 points
in volatile trade.
By: ENS Economic Bureau | Mumbai | Published: October 9, 2018 2:12:10 am
The domestic currency crashed below the 74-mark for the first time ever in intra-day trade Friday after the RBI unexpectedly kept the policy rate unchanged.Top News
Rajasthan minister's photo urinating in open goes viral, he calls it 'age-old tradition'
Goa MLA's son surrenders after killing 26-year-old in road accident
Priyanka Chopra and Sonali Bendre visit Rishi Kapoor in New York
The battered rupee Monday plunged by 30 paise to finish at a fresh lifetime low of 74.06 against the US dollar Monday amid strengthening of the greenback and steady capital outflows. However, the Sensexswung over 660 points both ways on alternate bouts of selling and buying and closed with a gain of 97 points in volatile trade.
The domestic currency crashed below the 74-mark for the first time ever in intra-day trade Friday after the RBI unexpectedly kept the policy rate unchanged. Markets were caught off guard as the ReserveBank maintained status quo on the benchmark interest rate.
On Monday, the domestic currency recovered to a high of 73.76, but failed to sustain the momentum and plunged to 74.10. It finally closed at 74.06, down by 30 paise, marking its fifth straight session ofdecline.
Analysts said the market will remain cautious ahead of the macroeconomic data, US treasury currency report and IMF meeting. “Correction in rupee may be seen if the RBI permits for special dollar swapwindow with some state-run fuel retailers or come up with other options to check Rupee fall,” Mukadam said, adding that the expected trading range in near term is 72.50 – 74.60. The dollar demandstrengthened after China’s central bank eased its domestic policy to support the economy, amid a deepening trade war with the US that has increased pressure on growth in the world’s second largesteconomy.
China’s central bank said Sunday said that it was cutting the reserve requirement rations (RRRs) by one per cent from October 15, which will inject $109.2 billion into the system.
Various factors dragging the rupee to its historical low levels include rising crude oil prices, widening current account deficit and FPI outflows. More importantly there are other external factors at play suchas a stronger dollar on the back of the trade war with China and the sanctions on Iran, Care Ratings said.
Sensex touched a high of 34,636.43 on the back of sustained buying by domestic institutional investors (DIIs), but later turned choppy and hit a low of 33,974.66 as selling pressure gathered momentum.However, it recovered to close the day higher by 97.39 points at 34,474.38. NSE Nifty too recovered by 31.60 points, or 0.31 per cent, to end at 10,348.05.
Yes Bank rose 7.08 per cent, followed by RIL at 5.53 per cent. Hero MotoCorp also surged 5.14 per cent, Kotak Bank 4.62 per cent, SBI 3.18 per cent, Asian Paint 2.99 per cent and ONGC 1.94 per cent.Sector-wise, the BSE oil & gas index topped with a rise of 3.30 per cent, followed by bankex 1.16 per cent, PSU (1.13 per cent), auto (0.73 per cent), infrastructure (0.37 per cent), consumer durables (0.37
Rupee slumps to record low of 74.06 | The Indian Express https://indianexpress.com/article/business/market/rupee-record-low-again...
2 of 7 10/9/2018, 11:55 AM
per cent) and power (0.14 per cent) indices.
Must Watch
PrevNext
For all the latest Business News, download Indian Express App
Recommended by
More Top News
Vivo V11 Pro first look:
At Rs 25,990 this one is
packed with features.
Why IL&FS crisis was
too big to ignore for
India's financial sector:
News in Numbers
On the sets of Dastaan-
E-Mohabbat Salim
Anarkali
Protect your family’s future with SBI Life term
insurance plans.SBI Life Insurance Policies, Investment Plan, Unit Linked Life
Insurance
Pressure from the Suharto's son and dangerous
rumors: Mochtar Riady's story (24)Nikkei Asian Review
A new direction for Lippo after the Asian financial
crisis: Mochtar Riady's story (25)Nikkei Asian Review
Surviving a crisis and pioneering new industries:
Mochtar Riady's story (26)Nikkei Asian Review
Discover the reasons why gold never rustswww.mygoldguide.in
Pay 10% & enjoy 100% luxurious lifestyleSobha City - Overview
5 Reasons to Invest in Dwarka ExpresswaySobha City - Overview
Amazing Method "Burn" Fat Overnight (Try This
Today)healthyindia.life
India's Top 10 BillionairesForbes
Rupee slumps to record low of 74.06 | The Indian Express https://indianexpress.com/article/business/market/rupee-record-low-again...
3 of 7 10/9/2018, 11:55 AM
CBSE syllabus of Class 10, 12 Maths paper 2019
In Ahmedabad, migrant workers find shelter in ‘secret’ camp
What is your reaction? Powered by Vuukle
happy unmoved amused excited angry sad
0% 0% 0% 0% 0% 0%
Rupee slumps to record low of 74.06 | The Indian Express https://indianexpress.com/article/business/market/rupee-record-low-again...
4 of 7 10/9/2018, 11:55 AM
0 comments Recommend
3000
or
I agree with Vuukle's Privacy Policy
TALK OF THE TOWN
DRDO official accused ofespionage held in Nagpur
167 comments
Nirav Modi sold fake diamondsto Canadian national, hisengagement is now broken
140 comments 60%
We are living through history asfake news; education beingcorporatised, says ArundhatiRoy
128 comments 42%
Attack on migrants in Gujarat:Nitish Kumar speaks to GujaratCM, Akhilesh Yadav pinsresponsibility on BJP
83 comments
Sabarimala verdict: Reviewpetition in Supreme Courtchallenges ‘irrational if notperverse’ order
64 comments
J&K urban local body elections:Just 8.3 per cent turnoutrecorded as Valley gives coldshoulder to polls
31 comments 33%
Show more articles
0
Advertisement
AdvertisementLive Blog
Rahul Gandhi, Amit Shah rally LIVE updates: BJP, Congress to woo voters ahead of Rajasthan, Madhya Pradesh Assembly polls6 mins agoPakistan vs Australia Live Cricket Score, 1st Test Day 3: Australia look to battle 482 run mountain13 mins ago
Rupee slumps to record low of 74.06 | The Indian Express https://indianexpress.com/article/business/market/rupee-record-low-again...
5 of 7 10/9/2018, 11:55 AM
Advertisement
Best of Express
SC declines urgent hearing on plea seeking review of Sabarimala verdict
#MeToo | OPINION#MeToo provides a point of confrontation against patriarchy and an opening for change
Tamil journalist Nakkeeran Gopal arrested, his magazine alleged Governor Purohit's role in sex scandal
OpinionSome moments in the life of a patriarchy provide points of confrontation — also openings for change
OpinionDefining Dignity: The concept is being invoked by Supreme Court, but not in a uniform manner
Watch NowAayush Sharma and Warina Hussain on meeting Salman Khan for the first timeBuzzing Now
EntertainmentPriyanka Chopra and Sonali Bendre visit Rishi Kapoor in New York
EntertainmentNetflix announces original series Selection Day
Rupee slumps to record low of 74.06 | The Indian Express https://indianexpress.com/article/business/market/rupee-record-low-again...
6 of 7 10/9/2018, 11:55 AM
EntertainmentTaapsee Pannu: I'm so happy MeToo movement is finally happening in India
TrendingPrison guard quits her job, vacations with former prisoner
TrendingBritish vocalist mesmerises audience by singing 'Aaj Jaane ki Zid Na Karo'
Advertisement
The 3 Things PodcastX
The case of the missing JNU student
The ExpressGroupThe Indian ExpressThe Financial ExpressLoksattaJansattainUthRamnath Goenka Awards
Privacy PolicyAdvertise with UsContact UsSubscribeStatutory provisions on reporting (sexual offenses)
X
Statutory provisions on reporting (sexual offenses)Copyright © 2018 The Indian Express [P] Ltd. All Rights Reserved
:)
Rupee slumps to record low of 74.06 | The Indian Express https://indianexpress.com/article/business/market/rupee-record-low-again...
7 of 7 10/9/2018, 11:55 AM