Indian Rupee breaches 73 mark, plunges to fresh all-time low
05 October, 2018, 14:11 | Author: Sally Reid
The rupee on Thursday crashed to a historic low of 73.81 to the dollar due to the twin-impact of capital outflows triggered by surging US Treasury yields and crude oil prices racing to a four-year high.
Adding to the bullish mood, Federal Reserve chairman Jerome Powell said on Wednesday that the central bank may raise interest rates above an estimated "neutral" setting as the "remarkably positive" U.S. economy continues to grow.
The meeting assumes significance as the rupee has hit an all-time high of 73.74 against the United States dollar, which would raise India's import bill and widen the trade deficit (difference between imports and exports).
China's financial markets are closed for the week.
On Wednesday the rupee slipped to a low of 73.42 per dollar as crude oil prices breached the 85 US dollars per barrel mark, leading to huge outflows of cash.
A plunging currency may prompt the Reserve Bank of India to hike interest rates for the third time since June when it meets on Friday.
Messi capped off a fine night with his second goal at the death to bring an end to a thrilling contest in the English capital. Swiftly playing the ball back in side, former Liverpool man Philippe Coutinho was on-hand to finish the chance off well.
You can expect it to sound like an Amber Alert or flood warning, according to the Federal Emergency Management Agency ( FEMA ). That message may go out to cellphones, weather radios and TV and radio stations - simultaneously.
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The majority of Palu's inhabitants are Muslim. "I assure all help from India to Indonesia to combat the disasters", Swaraj said. The other tragedy is that more than 48,000 have been forced to leave their houses and telecommunications are still not working.
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