Skip to content
Search AI Powered
Human content, AI powered search.

Latest Stories

Indian rupee falls to record low at 70.09 against US dollar

Easterneye.Biz Staff
By Easterneye.Biz StaffAug 14, 2018
Easterneye.Biz Staff
See Full Bio

Indian Rupee (INR) tumbled to its historic low of Rs 70.09 against US dollar (USD) following a weak trend in the international currency market.

INR touched its bottom as investors feared that continuing bearish trend in lira may result in a global currency turmoil as Turkish currency, lira recorded a 45 per cent drop against USD this year.

With a bearish trend in the Indian currency, the investors treating USD as a safe haven for their investment. INR was seen trading at Rs 69.92 against USD as of 09.00 GMT on Tuesday (14).

Lira has tumbled about 45 per cent against the USD in 2018 following concerns over Turkish President’s increasing grip over the domestic economy and thickening diplomatic issues with the US.

Turkey’s central bank on Monday (13) said it was ready to take all possible measures to prevent fall of lira to ensure the financial stability of the country. The statement from the central bank came after the Turkish lira recorded a steep decline against USD.

Lira was seen trading at 6.52 against USD, a fall of 5.14 per cent on Tuesday (14) at 09.22 GMT.

indian rupeedollar

Related News

Tamil migrants
News

Tamil migrants brought to UK after years in Chagos camp

sanjay-shah-danish-tax-fraud
Business

Trader Sanjay Shah jailed for fraud

More For You

FCA warns against regulatory 'race to bottom' in growth push
Nikhil Rathi
TOLGA AKMEN

FCA warns against regulatory 'race to bottom' in growth push

FINANCIAL REGULATOR has cautioned against compromising regulatory standards while attempting to boost economic growth, revealing the delicate balancing act facing Britain's financial oversight.

In a frank discussion with MPs, the Financial Conduct Authority (FCA) leadership highlighted the challenges of their expanded mandate to promote business competitiveness alongside consumer protection, reported the Times.

Keep ReadingShow less
Sanjay Bhandari's extradition appeal opens in London
Sanjay Bhandari

Sanjay Bhandari's extradition appeal opens in London

SANJAY BHANDARI, a consultant in the defence sector wanted in India on alleged tax evasion and money-laundering charges, began an appeal in the High Court in London against his extradition order.

The 62-year-old businessman had won permission to appeal against a November 2022 Westminster Magistrates’ Court ruling clearing his extradition earlier this year.

Keep ReadingShow less
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)

Murdoch's bid to secure eldest son's control of media empire fails

RUPERT MURDOCH’s attempt to secure control of his media empire for his eldest son, Lachlan, has reportedly failed, according to a US news report on Monday.

The Murdoch family, which oversees influential outlets like Fox News, The Wall Street Journal, and various British and Australian media organisations, has often been compared to the fictional dynasty in the TV series Succession. Like the show, real-life disputes within the Murdoch family have centred on control of the business after Rupert Murdoch’s death.

Keep ReadingShow less
Kamlesh Pattni faces UK sanctions for illicit gold trade
Pattni stands accused of central involvement in the infamous Goldenberg scandal. (Representational image: iStock)

Kamlesh Pattni faces UK sanctions for illicit gold trade

THE UK and US have imposed financial sanctions on Kamlesh Pattni, a British-Kenyan businessman with a controversial financial history. The punitive measures target Pattni and four of his close family members, including his wife and brother-in-law, reported the BBC.

The sanctions, announced by the UK Foreign, Commonwealth and Development Office, will result in the immediate freezing of assets, representing a significant intervention in what officials describe as a complex network of illicit gold trading spanning multiple African nations.

Keep ReadingShow less
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)

India appoints Sanjay Malhotra as new central bank governor

INDIA has appointed Sanjay Malhotra, a senior finance ministry bureaucrat, as the new governor of its central bank, the Reserve Bank of India (RBI).

The announcement was made on Monday, a day before the term of outgoing governor Shaktikanta Das was set to expire.

Keep ReadingShow less
© Copyright 2024 Garavi Gujarat Publications Ltd & Garavi Gujarat Publications