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Rupee declines 39 paise to 87.50 on rate cut bets

February 06, 2025

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The New Indian Express Mangaluru

The rupee on Wednesday declined nearly 39 paise to 87.50 against the dollar as traders are expecting the first repo rate cut in nearly five years on Friday.

- ENS ECONOMIC BUREAU @ Mumbai

A topsy-turvy equity market only added to the pain for the unit.

The rupee opened rather flat, 5 paise lower from the previous close at 87.1263 against the dollar. But by afternoon panic gripped traders and the rupee crossed the 87.50 mark as more and more news of near certain rate cut panicked them.

The rupee, which has already lost more than 4% since October, recoupled on RBI intervention but closed with deep cuts over at 87.4650, down 0.4%.

المزيد من القصص من The New Indian Express Mangaluru

The New Indian Express Mangaluru

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The New Indian Express Mangaluru

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DEMOCRACY is a sacred social settlement which presumes a covenant of consent, consultation and constant accountability In India, it has been cunningly converted into a closed-circle club of convenience where the custodians of the Constitution have become collectors of comfort, connoisseurs of compensation and champions of cushy conveniences.

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The New Indian Express Mangaluru

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The New Indian Express Mangaluru

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'93% productivity in Budget session'

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The New Indian Express Mangaluru

WHAT LUTYENS REALLY THOUGHT OF MADRAS

HEN Edwin Lutyens—the British architect who designed imperial New Delhi and what is now Rashtrapati Bhavan— wrote about India, he was not always speaking in generalities.

time to read

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Over 90 per cent tracks in India are substandard: Sumariwalla

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The New Indian Express Mangaluru

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Teflon Trump Keeps Winning the War for Attention

It starts, as it so often does, with Teflon Trump as the spectacle.

time to read

4 mins

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The New Indian Express Mangaluru

US extends sanction waiver on Russia oil till May 16

WITH the war continuing in West Asia, the United States has extended its waiver on sanctions for countries importing Russian crude by a month until May 16.

time to read

1 min

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