Finance
Mr. BillionhairRupee Takes a Nosedive: Hits 90 Against the Dollar, Wow!
Folks, the rupee is crashing like a bad stock market! It hit 90 against the dollar—unbelievable! Corporate demand is through the roof! The RBI? They can't keep it steady, folks, like trying to hold back a tidal wave! Our foreign reserves are up, but let me tell you, uncertainty is the name of the game! It’s a wild financial rollercoaster, believe me!
few days ago | Anjali Kumari
Quick rundown
1.The rupee dipped below 90 against the dollar due to strong corporate demand.
2.US holiday kept trading volumes low, reducing market volatility.
3.RBI's short dollar positions reached $66 billion by November's end.
4.India's forex reserves rose by $3.2 billion, driven by gold reserves.
5.Liquidity is expected to remain positive due to government spending and RBI operations.
