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Rupee sinks to record low, settles 58 paise down at 86.62 against US dollar

Mumbai, Jan 13 (PTI) The rupee logged its steepest single-day fall in nearly two years and ended the session 58 paise down at its historic low of 86.62 (provisional) against the US dollar on Monday, weighed down by a stronger American currency and surging crude oil prices. At the interbank foreign exchange, the rupee opened at 86.12, and moved 1 paisa during intraday to 86.11 before closing the session with a loss of a staggering 58 paise at its lowest-ever level of 86.62 (provisional) against the greenback. The fall of 58 paise, or 0.67 per cent, in one session was

December retail inflation eases to 5.22% from 5.48% in previous month as food price growth slows

NEW DELHI, Jan 13(Reuters) – India’s annual retail inflation in December eased to 5.22% from 5.48% in the previous month as the rate of increase in food price slowed, according to government data released on Monday. Annual retail inflation in December was lower than economists’ estimate of 5.3% in a Reuters poll. Inflation in food items, which account for nearly half of the consumption basket, slowed to 8.39% in December from 9.04% a month earlier. Vegetable prices rose 26.56% year-on-year in December, compared to a 29.33% increase registered in November and 42.18% in October. Prices of cereals rose 6.5% from

As PM Modi prepares to turn 75, rupee has declined well past 86 to the dollar: Congress

New Delhi, Jan 13 (PTI) Taking a swipe at Prime Minister Narendra Modi over fall in the value of rupee, the Congress on Monday said as the fall continues, he has clearly been “hoist with his own petard”. The rupee logged its steepest fall in nearly two years, plunging 55 paise to hit a historic low of 86.59 against the US dollar during mid-session on Monday due to strengthening of the American currency and surging crude oil prices. “When Mr. Narendra Modi took over as PM he was about to turn 64 and the rupee was at 58.58 to the

Rupee dives 55 paise, deepest in nearly two years, to hit record low of 86.59 against US dollar

Mumbai, Jan 13 (PTI) The rupee logged its steepest fall in nearly two years, plunging 55 paise to hit a historic low of 86.59 against the US dollar during mid-session on Monday due to strengthening of the American currency and surging crude oil prices. At the interbank foreign exchange, the rupee opened at 86.12 and fell to the lowest ever level of 86.59 against the greenback during mid-session, registering a loss of 55 paise from its previous close. The local unit however pared some losses and was later trading 46 paise down at 86.50 versus the dollar. The fall of

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