
Rupee slips 2 paise to close at 74.20 against U.S. dollar
The Hindu
At the interbank foreign exchange market, the rupee opened at 74.15 per dollar as against its previous close of 74.18.
The rupee weakened by 2 paise to end at 74.20 (provisional) against the U.S. dollar on Friday as higher crude oil prices weighed on forex market sentiment. At the interbank foreign exchange market, the rupee opened at 74.15 per dollar as against its previous close of 74.18. It hovered in the range of 74.14 to 74.25 during the day before ending at 74.20 against the greenback.
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.












