Rupee fall due to external factors: Government

So far this year the Indian rupee has weakened 7.7% while foreign investors have sold $260.40 million and $5.43 billion in equity and debt markets respectively

The rupee has been among the worst performing currencies against the dollar compared with its peers so far this year. Previously, the rupee had dropped 2.4 percent or 148 paise in a single day in August 2013.

A weak trend in Asia coupled with sell-offs on Wall Street last week and a slump in the Turkish lira dampened the sentiment globally, brokers said.

An ET poll in June had said rupee could touch 70 to the U.S. dollar by December-end amid global policy uncertainties. "As currencies of other economies are also depreciating, intervention by the Reserve Bank of India (RBI), by selling dollars in the country, will not help much at this stage for stabilising the rupee", Garg told reporters.

Saudi Arabia May Back Tesla’s $420-per-Share Buyout
Musk's tweet stunned investors, with many raising questions about his claim that funding for the venture had been secured. In a blog post , Mr Musk said that he only wanted to buy out shareholders who no longer wanted to own Tesla shares.

The reason behind the fall in rupee was because of the drop in Turkish Lira, and the United States dollar gaining rapid strength amid fears that the economic crisis in Turkey could spread to other global economies.

Panic and capitulation overshadowed trading mood as traders and speculators saw no signs that monetary authorities would step into the foreign exchange market to support the domestic unit.

The Indian rupee, which has been facing headwinds caused by a rise in crude oil prices and a hardening U.S. dollar, continued its slide against the USA currency on Monday.

Related News:

  • Google Play shows warning to anyone searching for Fortnite APKs

    Google Play shows warning to anyone searching for Fortnite APKs

    Unfortunately, most users won't get past the sign-in process as only invited players will be able to launch the game. Epic Games' decision to not list Fortnite on Play Store is a huge loss for Google .
    Spurs open campaign with win over Newcastle

    Spurs open campaign with win over Newcastle

    Tottenham Hotspur boss Mauricio Pochettino was full of praise for Harry Kane even though he failed to get on the scoresheet in a 2-1 win at Newcastle United .
    England vs India, second Test, day four

    England vs India, second Test, day four

    On the other hand, England are on a roll, with Anderson and Broad - combined age of 68 - bowling as well as they have ever done. The likes of Chris Woakes and Stuart Broad and Sam Curran lent him appropriate support to restrict the Indian batsmen.
  • Florida man charged with manslaughter in 'stand your ground' case

    Florida man charged with manslaughter in 'stand your ground' case

    Alleged shooter Michael Drejka, 47, was taken into custody on Monday, the Pinellas County Sheriff's Office said in a statement. Surveillance footage shows McGlockton walking out of the store and shoving Drejka to the ground.

    The sweet gift Meghan Markle has already saved for her future daughter

    Ever since Prince Harry and Meghan Markle's May 19 wedding, baby buzz has been in full-swing for the couple. I think she will be going as soon as possible.
    Tiger Woods show suggests bright future for champion Brooks Koepka

    Tiger Woods show suggests bright future for champion Brooks Koepka

    It will be impossible to overlook him now, not with the Wanamaker Trophy to go with his back-to-back U.S. I would have laughed at you and told you there was no way, no chance, and to do it is really incredible.
  • Manchester United manager Jose Mourinho left bemused by Paul Pogba remarks

    Manchester United manager Jose Mourinho left bemused by Paul Pogba remarks

    Barcelona manager Ernesto Valverde did, however, refute the claims that Pogba has been shortlisted as the "Iniesta replacement". Manchester United's Paul Pogba gestures during the game against Leicester City at Old Trafford August 10, 2018.
    Ronaldo scores in Juventus v Juventus B match

    Ronaldo scores in Juventus v Juventus B match

    That's a great sign for Juve . "I know Real Madrid well and all that counts, even for Florentino Perez, is the club". With the superstar's move to Juventus , the Italian giants will look to extend their dominance to Champions League.
    Turkey's central bank tries to curb lira fall

    Turkey's central bank tries to curb lira fall

    Oil prices edged lower, with Brent crude off 11 cents at $72.72 a barrel and USA crude as much as 30 cents lower at $67.33. The pressure spread across emerging-market assets and the South African rand hit the lowest since June 2016.
  • Turkish economy is solid, strong: President Erdogan

    Turkish economy is solid, strong: President Erdogan

    More than a third of Turkish banks' lending is in foreign currencies, according to Reuters . The fear is of a full-blown emerging market crisis.

    Omarosa’s White House recordings fuel Trump woes

    Ouch! Her promotional tour is going to be a very short one if she keeps being rude to her interviewers. According to excerpts of her forthcoming memoir released to The Guardian , Omarosa said Mr.
    Omarosa claims she heard Trump N-word tape after book's publication

    Omarosa claims she heard Trump N-word tape after book's publication

    She said she recorded the meeting, which occurred in the Situation Room, because she was feeling threatened. Manigault said that since this was her first conversation with Kelly, she'd like to ask some questions.


Most liked

OMAROSA UNHINGED? Reality villainess targets Trump! Which side are you on?
Trump adviser Kellyanne Conway appeared on the same show Sunday and said she wouldn't be working for Trump if he was racist. Pierson said flatly, "No Ed, that did not happen", after Ed Henry read Manigault's claims from page 149 of her book.

Trump Signs Defense Spending Bill Giving 2.6% Pay Raise to US Troops
The bill is aimed at rebuilding the USA military by authorizing a total of $717 billion for military funding over the next year. The president continued to praise American armed forces, saying "no one on earth can match the strength of the USA military".

North and South Korean leaders to meet in Pyongyang in September
Moon was part of the South Korean delegation which travelled to Pyongyang for the second inter-Korean summit held in October 2007. South Korean unification minister Cho Myoung-gyon would only said officials still had work to do before agreeing on a date.

Andy Murray out of Cincinnati Masters after losing to Lucas Pouille
Tsitsipas rallied from a set and 5-2 down to turn the tables on Zverev, who had been bidding for a fourth Masters 1000 title. Tsitsipas did then eked out a set point on the Nadal serve which the Spaniard saved with the help of a net cord.

Hundreds injured as platform falls into sea at Spanish music festival
Radio Galega said 266 people were injured at the O Marisquino festival in Vigo , a town in the Galicia region. The drama happened at the start of the last day of the three-day festival, which is in its 18th year.

Jurgen Klopp not surprised by Naby Keita's impressive debut
And after the first round of games, Liverpool sit top of the table, sending a clear message of intent to City. Since the inclusion of the German, Jurgen Klopp , the club has seen an increase in nearly everything.

Iran’s Khamenei blames mismanagement more than United States sanctions for economic woes
Trump's offer of talks as "a unsafe game" and his administration as a "bullying, fraudulent regime". The protests over the cost of living have often turned into anti-government rallies.

Iran’s Khamenei rules out war, talks with U.S.
The sanctions target Iran's trade in gold and other precious metals, its purchases of United States dollars and its auto industry. The 2015 agreement placed tight controls on Tehran's nuclear program in exchange for the lifting of global sanctions.

Embattled Anti-Trump Agent Peter Strzok Fired from Federal Bureau of Investigation
Aitan Goelman, Strzok's attorney, said FBI Deputy Director David Bowdich ordered the agent's termination on Friday. During the 2016, Strzok would regularly text with attorney Lisa Page expressing his distaste for Trump.

Canadian Muslims Worry after Saudi-Canada Spat Led to Cancellations of Flights
State Department spokeswoman Heather Nauert speaks during a briefing at the State Department in Washington, Wednesday, Aug. 9, 2017.

Nadal ends Tsitsipas’ Toronto run on Greek’s 20th birthday
Rafael Nadal shared a brilliant moment with a young fan that left him cracking up before the Rogers Cup final. The Greek youngster, who turned 20 on Sunday, appeared flummoxed at times and never really found his rhythm.

Mexico’s economy minister upbeat on NAFTA progress
Trump has often threatened to withdraw from the three-way pact unless US -proposed changes to the existing terms are accepted. Mexican President-elect Andres Manuel Lopez Obrador has earlier talked of a "new relationship" with the United States.

Derby Complete Signing of Huddersfield Midfielder Scott Malone on Three-Year Deal
Derby started the second half by creating a glorious chance and once again they spurned it. They moved the ball better, we made mistakes which gave them goals.

EPL: Manchester City and Liverpool off to cracking starts
They do not have that searing turn of speed that is needed to really threaten Premier League defences. Sunday's other game was a goalless draw between Southampton and Europa League contestants Burnley.

Soul Music Legend Aretha Franklin Is Reportedly Near Death
Her brother and manager Cecil died from lung cancer in 1989, one year after her sister Carolyn passed away from breast cancer. Back in March the musician was forced to cancel some concerts, including a show in New Orleans, under " doctor's orders ".