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Indian rupee slips to new low, touches 74.27 to US dollar


Mumbai, Oct 9 (IANS): The Indian rupee slipped to a new low of 74.27 to a US dollar during the mid-afternoon session on Tuesday.

Around 1.25 p.m., the Indian rupee traded at 74.27 to a dollar -- the lowest ever against the greenback.

The Indian currency made a slight recovery at 1.35 p.m. to stand at 74.26 to a USD.

It opened the day's trade at the Inter-Bank Foreign Exchange Market at 73.85 to a USD from its previous close of 74.07.

Sensex reverses gains to end 170 points lower on weak rupee

India's key equity indices reversed the day's gains to end lower, as the domestic currency touched a new low against the US dollar.

The S&P BSE Sensex lost over 170 points. The National Stock Exchange's Nifty slid, but clung on to the psychologically-important 11,300-point mark.

Heavy selling was witnesssed in almost all the sectors, led by consumer durables, auto and FMCG stocks.

The Indian rupee slipped to a new low of 74.27 to a US dollar during the mid-afternoon session on Tuesday. At the Inter-Bank Foreign Exchange Market, it had opened at 73.85, from its previous close of 74.07.

At 3.30 p.m., the Nifty50 provisionally closed at 10,301.05, down 47.00 points or 0.45 per cent.

The benchmark Sensex, which had opened at 34,651.82, settled at 34,299.47, down 174.91 points or 0.51 per cent from the previous close.

The Sensex touched an intra-day high of 34,711.68 points and a low of 34,233.50.


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Comment on this article

  • Vineet, Mangalore

    Wed, Oct 10 2018

    Did anyone notice where Pakistani Rupee stand now? Please do not blame RBI or Modi for this too.....

    DisAgree [2] Agree Reply Report Abuse

  • RIZWAN AHAMAD, DUBAI

    Wed, Oct 10 2018

    Bhakto nay jise Allauddin ka Chirag samjkar sade char saal ghisa.. wah Chirag nahi chai ki kitlee thi..

    DisAgree Agree [18] Reply Report Abuse

  • N.M, Mangalore

    Wed, Oct 10 2018

    This comment is the best I have read so far!

    DisAgree Agree [1] Reply Report Abuse

  • NR, mangalore

    Wed, Oct 10 2018

    CENTRAL GOV can make plan for NRI, as much as funds in to country ,also benefit for NRI's.

    DisAgree [2] Agree [2] Reply Report Abuse

  • darrel, mumbai

    Wed, Oct 10 2018

    yes then make demonetisation and rob their money again.

    DisAgree Agree [6] Reply Report Abuse

  • Sahil, Mangaluru

    Wed, Oct 10 2018

    Time to proove loyalty of NRI bhakths but honestly so many rich Indians left India and invested outside due to stupidity of governance.

    DisAgree Agree [6] Reply Report Abuse

  • Santan Mascarenhas, Kinnigoli/Mumbai

    Wed, Oct 10 2018

    Good news for NRIs. According to some papers, "India is seeking to boost NRI flows to support its currency that has declined more than 14 per cent against the dollar this year, Asia's worst performer. " Officials from the finance ministry and the central bank are discussing a plan to raise money from non-resident Indians. An announcement regarding the method may come as early as this month, they said.

    DisAgree [2] Agree [6] Reply Report Abuse

  • shan, dubai

    Wed, Oct 10 2018

    Indian Government has to make arrangement to collect more funds from NRI. They have declare like olden days SBI US DOLLARS bond payable after 10 years with good interest rate like before. The maximum people will invest in these Bonds.

    DisAgree Agree [7] Reply Report Abuse

  • Sahil, Mangaluru

    Wed, Oct 10 2018

    NRI flows decreased due to the height of stupidity from jottle failure FRDI.

    DisAgree [1] Agree [10] Reply Report Abuse

  • Sahil, Mangaluru

    Wed, Oct 10 2018

    Gujus smart enough in all the matter but surprisingly why keep on decreasing rupees value i strongly believe some tactics behind ?

    May be congress party fund deposit in RS more but BJP hold party fund in dollar?

    NRE rupees deposit higher than USD?

    Time will answer.

    DisAgree Agree [6] Reply Report Abuse

  • Rajesh, Mangalore

    Tue, Oct 9 2018

    Dollar has been apreciating against all major currencies including the currencies running in our neighbourhood namely yuan and Pakisthani rupee. its a global phenomenon. However, yuan depreciation against dollar benefits china as it is a net exporter.

    DisAgree [2] Agree [2] Reply Report Abuse

  • Santan Mascarenhas, Kinnigoli/Mumbai

    Tue, Oct 9 2018

    The diminishing value of a currency will have far reaching effects on citizens. Foreign study or tour will be costly. Imported items like computers, mobile phones and crude oil will be costly. Costlier transport fuel will increase prices of day to day goods and stoke inflation. RBI has to raise lending rate. Interest rate on rupee has to be increased to maintain the attractions in debt markets to woo dollars. Home loan and EMIs will increase due to high interest rates.

    Theoretically, it may be good for export, but considering the competitiveness among other Asian countries, the high labor cost and low productivity, makes it difficult on export front for India. One good thing for India is our large number of NRIs, who help by remitting foreign currency.

    DisAgree [1] Agree [12] Reply Report Abuse

  • Richard, Belman

    Tue, Oct 9 2018

    Modi will start printing dollar.. No more hassle of rupee falling like saas bhi kabhi bahu thi ..bhakt will be chanting

    DisAgree Agree [24] Reply Report Abuse

  • Jprakash, Karkal

    Tue, Oct 9 2018

    Guj-rat mafia gang interested in looting only.

    DisAgree Agree [23] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Oct 9 2018

    Sadly Doctors have become BHAKTS ...

    DisAgree [3] Agree [29] Reply Report Abuse

  • ca girishkk, m'lore/dxb

    Tue, Oct 9 2018

    True sir...,
    the issue here is Doctor become patient.., need urgent treatment..., can anybody take him to UP Ghorakpur hospital...!!!!

    jh
    jai hind..,

    DisAgree Agree [9] Reply Report Abuse

  • N.M, Mangalore

    Tue, Oct 9 2018

    Chai Ketlie and Jhoot lie have screwed up the country.

    DisAgree [1] Agree [33] Reply Report Abuse

  • Lewis, Udupi/Blore

    Tue, Oct 9 2018

    They are so sure of EVMs that they don't even care. Country is in such a mess and they are so arrogant. Happily roaming around doing election campaigning shows how confident they are.

    DisAgree [2] Agree [32] Reply Report Abuse

  • Cyril, Mangalore

    Tue, Oct 9 2018

    I remember during the time of emergency the rupee value against dollar was very week.

    DisAgree [3] Agree [15] Reply Report Abuse

  • jimmy, Mangalore

    Tue, Oct 9 2018

    Bangladesh currency against USD is 84.41 against indian Exch. rate vs USD is 74.40 at closing.
    India will score century before Bangladesh will do.

    DisAgree [2] Agree [28] Reply Report Abuse

  • Tell The Truth, Mangalore

    Tue, Oct 9 2018

    No more tomotoes thrown on road..No more Potatoes thrown on road. No more onions thrown on road. People from other countries started to buy a lot in an container due to cheap exchange rate prevailed now. Earlier they use to visit.china..brazil..or third world countries for same. Our stocked products start to move from warehouses due to demand started. All are happy...importer..Business man.. trader..farmer..and people. Forex reserve now increased due to inflow of money. NRI's started to invest in India due to more booming period ahead. Most of products in market available in normal rate accept liquor.

    DisAgree [46] Agree [13] Reply Report Abuse

  • Swamy, Mangalore

    Tue, Oct 9 2018

    After 2014 lot of job opportunities for astrologers and fortune tellers. After successful predictions of operation all patients are dying in masses.

    DisAgree [8] Agree [26] Reply Report Abuse

  • Tell The Truth, Mangalore

    Tue, Oct 9 2018

    Thanks to keep hope on astrologers. Nostradmus prophecy never lies once.

    DisAgree [19] Agree [9] Reply Report Abuse

  • Swamy, Mangalore

    Tue, Oct 9 2018

    You are indeed a blind and stupid Bhakth so is Indian economy. Modi is very much thankful to you.

    DisAgree [8] Agree [15] Report Abuse

  • GURU, Mangalore - Mumbai

    Tue, Oct 9 2018

    This is the game plan.................................................lol

    DisAgree [6] Agree [1] Reply Report Abuse

  • Rolf, Dubai

    Tue, Oct 9 2018

    You forgot your national product. Cow muther. Cow dung . Cow meet. Was more exported by your cheddi goverment.

    DisAgree [7] Agree [17] Reply Report Abuse

  • Tell The Truth, Mangalore

    Tue, Oct 9 2018

    Rolf... Thank you very much interest shown on cow and it's products.
    We definitely arrange cow meet once in week..in district level. After all our forefathers depended on it more and it's source of income for there livlihood. I really overhelmed with your demand to announce it..a national product. Yes ofcourse.it's having medicenal effect. How about you to open franchise in dubai..??

    DisAgree [6] Agree [8] Reply Report Abuse

  • Rolf, Dubai

    Tue, Oct 9 2018

    We are redy to open .but we need your biodata to convince people how you where before and after consuming cow dung and cow muther which changed your entire way of thinking .and also send your pic .

    DisAgree Agree [12] Report Abuse

  • Sandeep, Udupi

    Tue, Oct 9 2018

    Soon we will overtake Bangadesh Taka..... !!!

    DisAgree [1] Agree [37] Reply Report Abuse

  • Tds, Mangalore

    Tue, Oct 9 2018

    digitally counted !!!!

    DisAgree [1] Agree [11] Reply Report Abuse

  • Dr.S.Kamath, Mumbai

    Tue, Oct 9 2018

    A comparison of INR (Indian Rupee) vis-a-vis all currencies shows drop against the US dollar (as obvious), and only a couple of other currencies. Each country’s interest rate also plays a role in this. Has anybody paid attention to the interest rates in US, of late? It used to be 3.25% in 2014. Today is around 4.75%. Obviously this makes the US dollar a more attractive investment. This is just the passing phase, folks. The US is consolidating its gains over many years.

    Who Killed the Rupee?

    PM - Rs start to finish
    (Rs slide in %)

    Nehru -
    1 to 4.76 (376%)

    Indira -
    7.50 to 11.36 (51%)

    Rajiv -
    11.36 to 17.50 (54%)

    P.V.Narsimarao -
    22.74 to 41.26 (81%)

    NDA1 (A.B. Vajpayee) -
    43.06 to 45.32 (5%)

    Manmohan Singh -
    45.32 to 62.33 (38%)

    NDA2 (Modi) -
    62.33 to 73~ (17%)

    DataSpeaks

    DisAgree [68] Agree [15] Reply Report Abuse

  • Amith, udupi

    Tue, Oct 9 2018

    Doctor ..

    whats app university knowledge please dont use on your patients .....

    " Since India was under British rule Rupee was pegged to Pounds. From 1927 to 1966, it was 13 rupees = 1 pound. This arrangement continued until 1966 when the rupee saw devaluation. Rupee was pegged to the U.S. dollar at a rate of 7.5 rupees = 1 dollar. This value was until the U.S. dollar devalued in 1971." ...

    god bless your patients ...

    DisAgree [3] Agree [60] Reply Report Abuse

  • Wilson Fernandes, Auckland

    Wed, Oct 10 2018

    Super reply Amith, I appreciate.

    DisAgree Agree [11] Reply Report Abuse

  • Syed Mohiudin, Iruvail/Riyadh

    Wed, Oct 10 2018

    Dr.
    Do your respected duty, please do not interfere in politics on wrong way.

    DisAgree Agree [7] Report Abuse

  • Swamy, Mangalore

    Tue, Oct 9 2018

    You in your election manifesto promised to bring rupee to 15. This is one of the reasons people voted you to power. Now what are you showing age old historical numbers to cover up your inability to fulfill your election promise and fool people????. Atleast can Modi bring rupee value to his chest size 56 if he truly has that chest?????....

    DisAgree [3] Agree [26] Reply Report Abuse

  • RkR, Mangalore/ Dubai

    Tue, Oct 9 2018

    Sir, No matter who rules it’s we the Consumer’s who suffer. They(Politicians and bureaucrats) will find solution to sue us which they’ve been doing for years- Increase fuel /lpg price, increase house/ vehicle loan interests, decrease fixed amount interests soon. Consumers Day to day use is what they hook very nicely.
    Holding our own money in banks, not allowing us to freely utilize it, restricting the limit per account. The more we use plastic money we’re charged. Minimum balance cut. List goes on.
    Commoners suffer they politicians use securities and different mode to increase their income.

    Nice info- Good work!!

    DisAgree Agree [11] Reply Report Abuse

  • George, Mangalore

    Tue, Oct 9 2018

    Make it round figure 100, the problem is solved

    DisAgree [2] Agree [16] Reply Report Abuse

  • Nithin Poojary, Mangalore

    Tue, Oct 9 2018

    Modi has no idea whatsoever....he is completely lost......

    DisAgree [3] Agree [22] Reply Report Abuse

  • Alwyn, Mangalore

    Tue, Oct 9 2018

    Dr.S.Kamath, Mumbai,

    Your data not making any sense. An increase in the price level is called inflation. When inflation occurs, money loses its value. This makes sense because an increase in the average price of everything means that each dollar does not buy as many... ... An increase in the price level is called inflation. When inflation occurs, money loses its value.

    Overall after Modi took power the price for every item is increased and poor Indians suffering.

    DisAgree [3] Agree [27] Reply Report Abuse

  • Manu, Udupi

    Tue, Oct 9 2018

    Data from post card and republic channel.
    Jumlebaaz came to power promising to make 1 dollar is equal to 40 rs

    DisAgree [1] Agree [14] Reply Report Abuse

  • Rolf, Dubai

    Tue, Oct 9 2018

    Ther are many cheddi DR . Please let us know in which university you got Dr.

    DisAgree [1] Agree [14] Reply Report Abuse

  • Ismail Shaikh, Moodbidri

    Tue, Oct 9 2018

    Nowadays Doctors also Fekus! and drenched in modi bhakti.

    DisAgree [1] Agree [17] Reply Report Abuse

  • Aanticorrupt, Mangalore /Kuwait

    Wed, Oct 10 2018

    Fantastic analysis ! can you also update analysis for petrol prices versus international crude oil prices since independence.

    DisAgree Agree [4] Reply Report Abuse

  • JNB, Mumbai_mangalore

    Wed, Oct 10 2018

    Half and fake knowledge is always very danger!

    DisAgree Agree [2] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Tue, Oct 9 2018

    Aur bhaki hai government girne ka.
    Ziddi nanhi chalega
    satya naas ho jayega

    DisAgree [3] Agree [14] Reply Report Abuse

  • Arun, Mangalore

    Tue, Oct 9 2018

    Modi does not understand economics at all. Jaitly is just incompetent. Before election it may reach 80

    DisAgree [4] Agree [31] Reply Report Abuse

  • Flavian, Mangluru/Kuwait

    Tue, Oct 9 2018

    Blessing in disguise for Congress.
    Looks like the voters now do not have any other choice
    Clear indication to determind the difference between an Econmist and a non-professional.

    DisAgree [4] Agree [25] Reply Report Abuse

  • Mohammed/Uppala, Uppala/Muscut

    Tue, Oct 9 2018

    Nepal ki currency nahi girthi, Pakistan ki currency nahi girthi,Bangladesh currency nahi girthi aur hamare ados pados ke chote chote deshon ki currency nahi girthi.
    Mitron phir hamari curency kyu gir rahi hai ?
    Delhi me baiti sarkar ki galthi hai.

    DisAgree [3] Agree [42] Reply Report Abuse

  • Deva, Pilar

    Tue, Oct 9 2018

    Greatest Achievement ...............going further no end.

    DisAgree [4] Agree [26] Reply Report Abuse

  • Anand, Mangalore

    Tue, Oct 9 2018

    No clue to handle the situation/ economy, option left is to witness the downfall!

    DisAgree [2] Agree [20] Reply Report Abuse

  • Syed Mohiudin, Iruvail/Riyadh

    Tue, Oct 9 2018

    Modi.......Modi.........Modi.......Hara Hara Modi......Bhaktas start chanting.

    DisAgree [2] Agree [35] Reply Report Abuse

  • Deva, Pilar

    Tue, Oct 9 2018

    Ghar ja..

    DisAgree [2] Agree [5] Reply Report Abuse

  • Amith, udupi

    Tue, Oct 9 2018

    Breaking : Rupee has been inducted in BJP's Margadarshak mandal now since it has crossed 74 ...Bhakts you can dance now ..no need to defend it anymore ..treat it like you treat advani

    DisAgree [4] Agree [28] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Tue, Oct 9 2018

    Truth/Tell the truth and the alikes
    Please tell the truth, why things are moving in a wrong direction? Why?

    DisAgree [2] Agree [19] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Tue, Oct 9 2018

    @ Swamy, Mangalore

    And in a race to inject Dollars from our reserves to contain rupee fall is going to be costly affair. Forein investments dwindling, Share market/rupee nose diving.
    Only Modi is flying hight with election furour.
    Wait for another shock wave.

    DisAgree [4] Agree [15] Reply Report Abuse

  • Anil, MP

    Tue, Oct 9 2018

    Soon fuel and ruppe price infront of dollar will.

    DisAgree [1] Agree [9] Reply Report Abuse

  • ca girishkk, m'lore/dxb

    Tue, Oct 9 2018

    I really appreciate the spirit of bhakt's..., despite know the truth about destroyed economy..., still supporting ...., something deserve worth mention......!!!
    If we apply the theory of behavioral psychology..., the blind support is to save the self respect & ego..., to defend the un-truth/FEKUISM expressed all thru the past couple of years...,

    jh
    jai hind..,

    DisAgree [1] Agree [31] Reply Report Abuse

  • RkR, Mangalore/ Dubai

    Tue, Oct 9 2018

    RBI - Gigantic systematic failure
    Hire an financial analyst

    DisAgree [2] Agree [27] Reply Report Abuse

  • indian, dubai

    Tue, Oct 9 2018

    well done modiji
    well done modiji you are going to beat Bangla taka now 22 daka against dirhaim.
    next pakistan rupee 32 against dirham
    all people should vote bjpppppp

    DisAgree [2] Agree [31] Reply Report Abuse

  • Swamy, Mangalore

    Tue, Oct 9 2018

    According to Bloomburg NY Indian rupee is the worst performing currency in the world. Surprisingly unconfirmed reports from IMF is praising Modi for his forecasted growth performance. One thing is sure a constantly declining currency is like a hole in a water tank. It can never fill up and contain more water. Whatever water it gets it gets drained off. There is no question of present or forecasted growth in economy in this case.

    DisAgree [4] Agree [31] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Tue, Oct 9 2018

    Welcome !
    But how long ?
    Only Modiji is shining
    Rupee value suffering
    Fuel prices achieving
    Think well before voting.

    DisAgree [3] Agree [33] Reply Report Abuse

  • ALTHAF MAHAMMED, Kaup

    Tue, Oct 9 2018

    Modi... Modi... Modi... Wa modiji Wah...

    DisAgree [4] Agree [27] Reply Report Abuse

  • Vincent Rodrigues, Katapadi/Bangalore

    Tue, Oct 9 2018

    Worst time to India rupee to find its value coming down drastically in the international level.

    DisAgree [3] Agree [31] Reply Report Abuse

  • Indian, Bangalore

    Tue, Oct 9 2018

    Modi is the first Prime Minister in India to be younger than the price of Petrol, Diesel and Dollar.

    DisAgree [3] Agree [53] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Oct 9 2018

    BJP has only one last option - Sell India & disappear to London ...

    DisAgree [7] Agree [72] Reply Report Abuse

  • Rathan, Mangalore

    Tue, Oct 9 2018

    Jossy
    Apne tho apna party ka idea bola diya
    Sukriya. Isliye hum khangress nahi chathe

    DisAgree [22] Agree [1] Reply Report Abuse

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Title : Indian rupee slips to new low, touches 74.27 to US dollar


 
 
 
 

 
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