A depreciating rupee beyond Rs 90 against the US dollar is poised to trigger price hikes across consumer electronics, beauty products, and automobiles. This could negate recent GST rate cut benefits, impacting sales momentum. Manufacturers are planning 3-10% increases from December-January to offset rising import costs.
Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, opened in red on Thursday. While Nifty50 was below 26,000, BSE Sensex was down nearly 100 points.
The Indian rupee hit a record low of 90.43 against the US dollar, marking its fastest decline in under a year. This depreciation is driven by foreign portfolio investment withdrawals, trade deficits, and a strong dollar, despite RBI interventions. However, the government remains optimistic about currency improvement and foreign direct investment inflows next year.
The Indian rupee plunged to a historic low of 90.29 against the US dollar, breaching the 90 mark for the first time. This sharp decline, attributed to US tariffs and significant foreign investor outflows, is now impacting the broader economy. While a weaker rupee makes imports costlier, it could benefit exporters and help manage the…
The Indian rupee plunged to a historic low of 90.29 against the US dollar, breaching the 90 mark for the first time. This sharp decline, attributed to US tariffs and significant foreign investor outflows, is now impacting the broader economy. While a weaker rupee makes imports costlier, it could benefit exporters and help manage the…
