Rupee settles on a flat note near all-time low at 84.85 against U.S. dollar
The Hindu
Rupee edges up by 1 paisa against dollar as new RBI Governor raises rate cut expectations.
The rupee settled for the day on a flat note higher by just 1 paisa at 84.85 (provisional) against the U.S. dollar on Tuesday (December 10, 2024), a tad above its all-time low level, as change of guard at the Reserve Bank of India raised expectations of a shift in the central bank's monetary policy.
The government on Monday (December 9, 2024) appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India.
Forex traders said markets now expect a rate cut in the upcoming monetary policy in February. Meanwhile, a weak tone in the domestic markets and a surge in the U.S. dollar index further pressurised the rupee.
At the interbank foreign exchange, the rupee opened at 84.80 and touched the lowest level of 84.86 against the greenback during intra-day trade. The unit ended the session at 84.85 (provisional) against the dollar, higher by just 1 paisa from its previous close.
On Monday (December 9, 2024), the rupee saw its steepest fall in over a month and plunged 20 paise to settle at the lowest-ever level of 84.86 against the U.S. dollar.
"We expect the rupee to trade with a negative bias on strength in the U.S. dollar and overnight gains in crude oil prices. However, recent FII inflows may support the rupee at lower levels," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan.
Mr. Choudhary further said that any intervention by the RBI may also support the rupee.
Coal Ministry's new rules eliminate CCO approval for opening mines, expediting operations and enhancing efficiency in coal production.
India imposes anti-dumping duties on Chinese steel and refrigerant gas to protect domestic industries from unfair pricing.
Sensex declines for the third day, losing 367 points due to foreign fund outflows and thin trading conditions.
Let’s take a look at some of the biggest crypto events of the year.
Silver futures soar to ₹2.32 lakh/kg as global prices exceed $75, marking a record high in commodities trading.
Stock markets decline as Sensex and Nifty fall amid foreign fund outflows and low trading volumes on December 26, 2025.
Rupee drops 23 paise to 89.94 against the dollar amid negative equity trends and rising crude prices.
The commencement of commercial flight from the Navi Mumbai International Airport (NMIA) is expected to speed up infrastructure and real estate development across Navi Mumbai and surrounding regions, analysts & industry executives said.
GCCs keep India’s tech job market alive, even as IT services industry embarks on a hiring moratorium
Global Capability Centres, offshore subsidiaries set up by multinational corporations, mostly known by an acronym GCCs, are now the primary engine sustaining India’s tech job market, contrasting sharply with the hiring slowdown witnessed by large firms in the country.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.