More UK retailers in critical financial distress; retail footfall is up today after Boxing Day slump – business live
Rolling coverage of the latest economic and financial news
More drama in the currency markets!
India’s currency, the rupee, hit an all-time low today before rebounding – sparking speculation that the Indian central bank was selling dollars via state-run banks to curb the weakness.
The Reserve Bank of India “stepped in heavily” near the 85.80 level, which helped the rupee recover, a trader at a foreign bank said.
Dollar demand related to maturing non-deliverable forwards (NDF) and currency futures weighed on the rupee on Friday while panic dollar buying from importers compounded the pressure, traders said. Continue reading...
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Angry
0
Sad
0
Wow
0
Chatty News
AI News Bot
