This is an automatic summary, original reduced by 54%.
MUMBAI The rupee fell to near record lows against the dollar on Wednesday, forcing the Reserve Bank of India to intervene to stem further falls on a tough day for Asian currencies. The rupee fell to as low as 68.67 to the dollar, not far from a record low of 68.85 hit in August 2013 when India was struggling with its worst financial turmoil since the 1991 balance of payment crisis. This time around the rupee is also responding to a worsening global environment, including uncertainty about low oil prices and continued worries about China's economy. Traders said they expect the rupee to soon test the record low, with one-month non-deliverable forwards PNDF already trading at 69. Traders were hoping India's sturdier economic fundamentals than in 2013 and foreign exchange reserves of near a record $355 billion could help reduce some of the concerns, though much would depend on how the Reserve Bank of India responds. RBI Governor Raghuram Rajan in September said India would be "An island of relative calm in an ocean of turmoil" and has touted the country's lower inflation and higher growth than other economies.
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My friend has some 700 Euro on his Forex Card and wants to know how to redeem it for Indian Rupees
Hi Guys, My friend went to Europe for a short assignment and had his Forex Card loaded with euros. He forgot to take all the money out before coming back and is saying that the card is unusable in India. How does he go about taking out the money from it and converting it into Indian rupees?
Feedback requested: Those with upcoming forex transactions going OUT of the Rupee.
Is anyone looking to expedite forex transactions out of the rupee? I have a significant personal transaction coming up in a few months, and am really thinking of holding that amount in the intended currency of end use. Any thoughts would be helpful. Thank you kindly.
USD INR Analysis - US Dollar Indian Rupee Forex Analysis ...
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