Arab Today, arab today india to unveil steps to curb rupee\s slide
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

India to unveil steps to curb Rupee\'s slide

Arab Today, arab today

Arab Today, arab today India to unveil steps to curb Rupee\'s slide

Mumbai - QNA

The Indian government and central bank are set to announce measures on June 25 to halt a slide in the rupee, which sank to a record low of 57.37 against the dollar yesterday, Indian Finance Minister Pranab Mukherjee said. The Finance Minister said that the government would announce measures in consultation with the Reserve Bank of India (RBI) on Monday that would improve "market conditions". The steps, he said, are being taken following a consultation between RBI governor D Subbarao and Department of Economic Affairs secretary R Gopalan. The Finance Minister made his comments to reporters in Kolkata today and broadcast on Indian local television news channels. The rupee is the worst-performing currency of the past year, having tumbled 21 per cent against the dollar, and reached an all-time low yesterday of 57.3275 per dollar. Fitch Ratings cut India's sovereign credit-rating outlook to negative on June 18, joining Standard and Poor's in signaling the country is at risk of losing its investment-grade status. Indian companies face a record $5.3 billion of maturing foreign-currency debt this year, data showed. The Reserve Bank of India on November 17 increased the caps on overseas investors' holdings of India's local-currency government debt and corporate bonds by $5 billion each to boost inflows and arrest the currency's decline. The central bank has asked oil refiners to obtain 50 per cent of their dollar requirements from a single state-owned bank, Oil Secretary G.C. Chaturvedi told reporters in New Delhi on Saturday. India buys 80 per cent of its oil from overseas and pays for supplies in dollars. Every one-rupee drop in the domestic currency against the dollar boosts annual revenue losses for the three government-owned refiners by Rs80 billion ($1.4 billion), the oil ministry said in November.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india to unveil steps to curb rupee\s slide Arab Today, arab today india to unveil steps to curb rupee\s slide

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india to unveil steps to curb rupee\s slide Arab Today, arab today india to unveil steps to curb rupee\s slide

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday