Rupee depreciation generally makes the Indian outbound traveler concerned about the travel budget. But this time, with other international currencies depreciating more, Indians are in a better position.
A day after sinking to a two year low, the rupee on Tuesday posted a remarkable recovery as China cut the benchmark interest rate to ease the financial markets.
Global sell-off triggered by concerns over a slowdown in the Chinese economy and fears of a currency war led by the Yuan devaluation impacted the rupee that fell by 81 paise, a steepest fall in two years.
- Aug21By PTI
Riding on global currency volatility wave, the rupee on Friday plummeted sharply by 29 paise to close at a fresh two-year low of 65.83 against the US dollar on high demand for greenback from banks and importers.
FY15 recorded 137% increase in mobile transactions at more than 255 million against 107.61 million during FY14.
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