The currency in circulation, which includes bank notes and coins, to GDP ratio stood at 13.7 per cent as on March 25, 2022, up from 11.6 per cent as on March 2014.
This is the third consecutive week of a drop in the reserves after the USD 8.319 billion decrease in the previous reporting week to USD 566.948 billion. In October 2021, the country’s forex kitty had reached an all-time high of USD 645 billion.
At the interbank foreign exchange market, the rupee opened at 82.77 against the greenback and finally settled for the day at 82.84 (provisional), registering a fall of 14 paise over its previous close of 82.70.
Data on Thursday showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, and that monthly producer prices increased by the most in seven months in January.
The dollar rose 0.6 percent against the yen to 133.91 yen.
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The rupee last traded at 82.5550 to the dollar, up from 82.8025 in the previous session.
The pound fell from around 24.7 for $1 to just over 26.3 against the dollar, less than two weeks after Egypt and the IMF formally ratified the support package
The Supreme Court on Monday upheld the decision of the government on demonetisation.
Justice Nagarathna, who was the juniormost judge in the Constitution bench also comprising justices S A Nazeer, B R Gavai, A S Bopanna and V Ramasubramanian, said the demonetisation of an entire series of notes at the Centre's instance is a far more serious issue that has wider implications on the economy and the citizens of the country.
The rupee ended largely unchanged at 82.8575 per dollar. It fell up to 82.9225 during the session, though moved in a narrow 10-paisa range.
The dollar rallied by as much as 0.67% to 134.40 in Asian trading, the most since December 20, when the BOJ sent the pair spiralling lower with an unexpected loosening of the 10-year Japanese government bond yield policy band.
If the winds favour Japan by way of lower energy prices, the yen could rally further against the dollar and other carry currencies
The yen was last 0.6 per cent stronger at 135.91 per dollar, after having touched a high of 135.80 earlier in the session.
Forex traders said a weak dollar in the overseas market cushioned the downside for the local unit.
The domestic unit finally settled at 81.79 against the American currency, registering a fall of 7 paise over its last close.
The greenback has tumbled in recent weeks as inflation data and comments from Federal Reserve officials have suggested that the central bank can soon slow the pace of its punishing interest rate hikes.
Forex traders said the American currency strengthened after strong US retail sales data pointed to resilient consumption adding room for tighter policy by the US Federal Reserve.
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Blessings of the Almighty are necessary for hard work to translate into success, the Aam Aadmi Party leader said. Kejriwal reiterated his demand to print pictures of the two Hindu deities on currency notes at a rally at Morva Hadaf in Panchmahal district of Gujarat where Assembly elections are expected to be announced soon.
Other parties term move opportunistic, with an eye on garnering the Hindu vote in the forthcoming Gujarat election
If Kejriwal really meant what he said then he should expel former Delhi minister Rajendra Pal Gautam and AAP’s Gujarat unit president Gopal Italia from the party for ”speaking against Hindu deities”, Tiwari demanded.