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What lies for Indian Rupee in 2021 is the biggest question for major importers, exporters and traders. The Covid-19 badly impacted major global economies in 2020.
Indian rupee remained one of the worst-performing regional currencies in 2020, despite record inflows from foreign institutional investors (FII) and foreign portfolio investors (FPI) into Indian equities
Whosoever wins this election, the result will certainly have an impact on the financial markets as well, along with the dollar. The coronavirus has realigned voters' concerns and behaviour.
Gold prices in India broke away from the global price rally for the first time in eight months, and reversed gains in August, after climbing lock-step for the first seven of the current year 2020.
Going forward, the overarching trend favors a sustained rally in both gold and silver prices, given the fact that global economic recovery may take long even after the COVID crisis fades away.
Forex reserves are assets in the form of gold, special drawing rights (SDRs), foreign currency assets (FCA) and reserve positions in the IMF, which are held by the nation's central bank.
A sharp decline in crude oil prices and huge amount of foreign exchange reserves have also not helped the rupee in arresting the slide as demand for crude oil has plummeted.
Forex traders said the appreciation in the rupee was largely on the back of some selling in the US dollar by banks and importers. At the interbank foreign exchange the rupee opened at 71.84
Share market today: The Sensex and Nifty posted their biggest weekly decline in over two years on Friday after, in a surprise move, the Reserve Bank of India (RBI) today kept the repo rate unchanged at 6.5%. The announcement
Indian rupee closed nearly 15 paise higher at 66.54 against the US dollar at the forex market on Monday on account of increased selling of American currency by banks and exporters.
Indian rupee strengthened further and closed 12 paise up at 66.46 against dollar after the Reserve Bank of India reduced the key interest rates by 25 basis points
Indian rupee closed 3 paise higher at 66.58 on Monday following selling of the American currency by banks and exporters amid firm domestic and global cues.
Indian rupee settled nearly 5 paise lower against the US dollar on Tuesday as traders turned cautious ahead of two key central bank policy reviews in the United States and Japan