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With a depreciation of more than 7 per cent this year, the currency exchange rate is slated to hit the low point of Rs 80 per dollar in India.
However, it is a boon for the exporters as they receive more rupees in exchange for dollars.
A sharp correction in crude oil prices in the past few days, however, has been a breather for the local currency.
The rupee depreciated 18 paise to close at a record low of 79.03 (provisional) against the US dollar on Wednesday.
On Thursday, the rupee fell by 6 paise to close at 77.74 against the US dollar.
The coins of Re 1, Rs 2, 5, 10 and 20 denominations will have the Azadi Ka Amrit Mahotsav (AKAM) design.
Mumbai: The central bank Reserve Bank of India (RBI) cleared the air by saying that it has no proposal to bring about changes to the existing currency and bank notes by replacing the face of Mahatma Gandhi with that of others. "There are reports in certain sections of the media that the
The sector-wise data for April indicated that credit off-take has happened in almost all sectors.
Adding to the challenges, there has been shortage of parts triggered by piling up of containers at Shanghai port due to strict lockdown in the city following the surge in COVID-19 cases.
The local currency also touched its record intra-day low of 77.63 to a dollar as losses in domestic stocks, concerns over weak growth, and persistent forex outflows negated the impact of a fall in crude oil prices.
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