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  #1  
Old October 9th, 2018, 03:25 PM
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Exclamation Rupee dips further, hits new record closing low of 74.39 against US dollar

Rupee dips further, hits new record closing low of 74.39 against US dollar
  • Investors remained concerned over sustained foreign capital outflows and rise in crude oil price
  • Forex dealers said besides strong demand for the American currency from importers, concerns rising fiscal deficit and capital outflows weighed on the domestic currency

Quote:
MUMBAI: The rupee on Tuesday continued its fall and plunged to a new record closing of 74.39 against the US currency. The Indian currency finished at new low amid rising crude oil price, which crossed the $84-mark today, and strong dollar demand.

On Monday, the rupee had for the first time breached the 74-mark to close at 74.06.

At the forex market, the domestic unit today opened higher at 73.93 and advanced to 73.88 on fresh selling by exporters amid weakness in dollar against some currencies overseas.

However, the currency erased all its morning gains in afternoon trade. Moreover, unabated foreign fund outflows weighed on the rupee, traders said.

Investors remained concerned over sustained foreign capital outflows and rise in crude oil price.

Forex dealers said besides strong demand for the American currency from importers, concerns rising fiscal deficit and capital outflows weighed on the domestic currency.


Meanwhile, the BSE benchmark Sensex dropped by 175 points, or 0.51 per cent, to close at 34,299 and the broader NSE Nifty also finished in red at 10,301.

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Old October 9th, 2018, 03:28 PM
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Re: Rupee dips further, hits new record closing low of 74.39 against US dollar

Someone had posted here on maybe on my WhatsApp that if the rupee crosses 70 then it will fall down to 80.

Do you think the rupee will arrest the slide? And if yes, then when? I mean how much lower will it go before it stops and then starts the climb again?
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Old October 15th, 2018, 01:44 AM
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Re: Rupee dips further, hits new record closing low of 74.39 against US dollar

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Originally Posted by echarcha View Post
Someone had posted here on maybe on my WhatsApp that if the rupee crosses 70 then it will fall down to 80.

Do you think the rupee will arrest the slide? And if yes, then when? I mean how much lower will it go before it stops and then starts the climb again?
I do not think this site forecasts perfect

http://dollarrupee.in/
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Old October 15th, 2018, 07:24 AM
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Re: Rupee dips further, hits new record closing low of 74.39 against US dollar

watch out for Saudi Arabia and the episode of the journalist allegedly killed within Saudi Embassy in turkey.
if trumps follows through his threat of sanctions on Saudi, they can reduce oil production making oil prices shoot much higher than they are now. This will royally screw economies of the world.
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Old October 15th, 2018, 10:32 PM
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Re: Rupee dips further, hits new record closing low of 74.39 against US dollar

Quote:
Originally Posted by kkkk View Post
watch out for Saudi Arabia and the episode of the journalist allegedly killed within Saudi Embassy in turkey.
if trumps follows through his threat of sanctions on Saudi, they can reduce oil production making oil prices shoot much higher than they are now. This will royally screw economies of the world.
Saudi cannot fuck with the USA. They will bow down.. Those idiots have no standing in the world except their oil. And if they fuck with Trump, as Turkey tried, then Trump will open up ANWR oil reserves to spite and punish Saudi.

Turkey thought Trump will behave like Obama, but they were wrong. Trump, whether you like him or hate him, is a businessman, and so knows how to fuck someone to get a better deal.
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Old October 16th, 2018, 01:55 AM
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Re: Rupee dips further, hits new record closing low of 74.39 against US dollar

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Originally Posted by echarcha View Post
Saudi cannot fuck with the USA. They will bow down.. Those idiots have no standing in the world except their oil. And if they fuck with Trump, as Turkey tried, then Trump will open up ANWR oil reserves to spite and punish Saudi.

Turkey thought Trump will behave like Obama, but they were wrong. Trump, whether you like him or hate him, is a businessman, and so knows how to fuck someone to get a better deal.
perhaps USA wont feel it, the rupee will certainly dip lower and so will all other currencies of the world.
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