According to a few businessmen toners, printers, hard disks and other hardware items have seen a significant great hike in their MRPs.
After a seemingly endless stream of gloomy news and falling values, sentiment has finally started to show signs of improvement globally against the backdrop of the upcoming visit of Chinese delegates to the US in order to re-engage in trade talks.
According to Angel Broking,EURUSD depreciated by 0.23 percent last week while EURINR depreciated by 1.8 percent during the same time frame.
For USD-INR resistance is now likely to be seen at 70.4475, a move above could see prices testing 70.64, according to LKP report.
The rupee ended below the 70-mark against the US dollar for the first time ever on August 16 on strong demand for the dollar amid the ongoing Turkish crisis.
The Indian currency collapsed to a historic intra-day trading low of 70.40 before closing at fresh life-time low of 70.15 per dollar on Thursday
Having said that, Anindya Banerjee of Kotak Securities does not see any 2013-like risk to Rupee as it is being driven by global factors
In this weekend's playlist, we look at 2 current affairs stories - Triple Talaq Bill and the Rupee's continuing fall against the US Dollar. This is followed by a look at eBay India's end. We wrap up by revisiting Flipkart Plus.
In similar vein, Thomas Cook India President & Country Head - Holidays, MICE, Visa & Passport Services Rajeev Kale said the rupee depreciation has had no adverse impact on the company's outbound bookings.
The Indian currency collapsed to a historic intra-day trading low of 70.40 before closing at fresh life-time low of 70.15 per dollar, down by 26 paise or 0.37 per cent over the previous close.
The rupee rose by about 17 percent during the last three years. Since the beginning of this year, rupee has declined by only 9.8 percent.
Big demand for dollars from offshore banks early morning on Thursday can take rupee to 71, unless RBI intervenes.
ICICI Direct expects USDINR to find supports at lower levels. Utilise downsides in the pair to initiate long positions.
We maintain a view of further weakness in the Indian rupee and if we see the fundamentals deteriorating on the deficit front and on the fiscal side before elections then we could see the pair inching towards 72-73 soon.
The rupee on Thursday fell 29 paise compared to Tuesday's close.
The sell-off in the rupee for couple of days has been so sharp that the Reserve Bank of India may have intervened on Tuesday that helped it recover from intraday all-time low of 70
There was a capital outflow from India of around $8.9 billion from the start of the current fiscal till July 26, 2018; since then, there has been $1.9 billion of inflows.
Current Account Deficits are lower than in 2013, interest rates, both nominal and real, are sufficiently higher than they were in 2013. Inflation and fiscal deficit are under control. Forex Reserves are higher
In the national context, the month of August is auspicious for more than one reason. In August 1958, the government recognized the Bombay Stock Exchange as the first bourse to come under the Securities Contracts (Regulation) Act.
The benchmark 50-stock Nifty index is up 8.5 percent for the calendar, despite the rupee depreciating 9.23 percent against the US dollar.
At 70.08 per US dollar, the currency witnessed a depreciation of depreciated 10 percent in 2018 so far.
Most emerging markets (EMs) are now better buffered against global risks from the unwinding quantitative easing (QE) regimes, rising oil prices and trade wars.
Economic Affairs Secretary Subhash Chander Garg said external factors may ease going forward.
Subhash Chandra Garg, secretary at the department of economic affairs, said the rupee was still performing better than some other currencies, and that the country had sufficient foreign exchange reserves.
Today the rupee hit record low of 70.08 against the dollar but recovered a bit later on.