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Reserve Bank Governor Sanjay Malhotra on Friday said the central bank does not target any specific price level or band for the rupee, and allows the currency to find its own “correct” value in the market, even as it hovers near the 90-per-dollar mark, PTI reported. “We don’t target any price levels or any bands….
Since April 2, following Trump’s reciprocal tariff announcement, the currency has depreciated by 5.5%. (AI image) The rupee continued its downward journey against the US dollar on Thursday, slumping to a record low of 90.43 in early trade. The Indian rupee crossed the significant 90-level barrier against the US dollar on Wednesday, reaching an intra-day…
The Indian rupee may finally have found a floor after months of sustained depreciation, with Jefferies indicating that the currency has likely bottomed out following its sharp underperformance against major emerging market peers, ANI reported.In its latest GREED & fear note, Jefferies said the rupee has been “the worst performer year to date amongst major…
