RBI MEASURES FAIL TO CHEER , RUPEE HITS ALL TIME LOW
Today rupee slumped to lowest level Rs 57.92 after RBI announced measures but it manages to recover some ground and closed at Rs 57.01.
At Forex market, there was expectation that government measures will arrest rupee’s down slide, which has fallen over 26 percent in last one year.
Today Moody’s today retained country’s credit rating to STABLE in comparison to earlier NEGATIVE rating.
RBI announced a hike in FII ( Foreign institutional investors) limit in government bonds to USD 20 billion, while allowing up to USD 10 billion from overseas borrowings by India Inc for financing new projects and refinancing […] Read more