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The Fed later is expected to raise rates by 75 basis points in the day, the third straight hike of this size. INDIA RUPEE-Rupee at record closing low ahead of near-certain big Fed rate-hike Skip ...
The data on exchange rate for Japanese Yen is in per 100 Yen. The end year rate for 1998–99 pertain to March 26, 1999 of Deutsche Mark rate. Data from 1971 to 1991–92 are based on official exchange rates. Data from 1992 to 1993 onward are based on FEDAI (Foreign Exchange Dealers' Association of India) indicative rates.
The spot exchange rate is the current exchange rate, while the forward exchange rate is an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. In the retail currency exchange market, different buying and selling rates will be quoted by money dealers.
In 1966, the Indian rupee was devaluated by 57% against United States dollar, which also led to the depreciation of the sterling. [96] Five years later, when the Bretton Woods system was suspended, India initially announced that it will maintain a fixed rate of $1 to INR 7.50 and leave the sterling under a floating regime. [97]
The move will result in an annual 1 trillion Indian rupee ($11.6 billion) hit to Treasury revenues. Measures to assist the poor, youth, farmers and women were also included in the budget for 2025 ...
Traders see potential for fewer rate cuts this year after the latest data. ... Stock market today: Indexes close lower as new data clouds rate cut views. Kelly Cloonan. January 7, 2025 at 4:27 PM ...
Without a central exchange, currency exchange rates are made, or set, by market makers. [1] Banks constantly quote a bid and an ask price based on anticipated currency movements taking place [clarification needed] and thereby make the market. Major banks handle very large forex transactions, often in billions of units. [1]
The Indian rupee was the official currency of Dubai and Qatar until 1959, when India created a new Gulf rupee (also known as the "external rupee") to hinder the smuggling of gold. [16] The Gulf rupee was legal tender until 1966, when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic ...