Rupee rises 9 paise to 74.18 against U.S. dollar in early trade
The Hindu
Asian currencies have started weak against the greenback this morning.
The Indian rupee inched 9 paise higher to 74.18 against the U.S. dollar in early trade on Thursday tracking positive domestic equities. At the interbank foreign exchange, the domestic unit opened at 74.20 against the dollar, then inched higher to 74.18, registering a gain of 9 paise over its previous close. On Wednesday, the rupee had settled at 74.27 against the U.S. dollar.
The latest Household Consumption Expenditure Survey (HCES) by MoS&PI reveals a transformative shift in India’s economic landscape. For the first time in over a decade, granular data on Monthly Per Capita Expenditure (MPCE) highlights a significant decline in the proportional share of food spending—a classic validation of Engel’s Law as real incomes rise. Between 1999 and 2024, both rural and urban consumption pivoted away from staple-heavy diets toward protein-rich foods, health, education, and conveyance. As Indian households move beyond subsistence, these shifting Indian household spending patterns offer vital insights for social sector policy, poverty estimation, and the lived realities of an expanding middle-income population.












