Rupee struggles against US dollar, settles at 287.09 - Markets
Currency losses Rs2.44 or 0.85% in inter-bank trading
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Currency losses Rs2.44 or 0.85% in inter-bank trading
Currency losses Rs2.44 or 0.85% in inter-bank trading
Renminbi vs US dollar: It is no secret that China would like to convert the renminbi into an international currency and move away from the global dominance of the US dollar. While this is often interpreted as a geopolitical move, a way to insulate China from possible US-led economic sanctions in the future.
The taka has weakened further against the US dollar as the Bangladesh Bank has started selling the American greenback to banks at Tk 103.
The rupee weighed down by firm crude oil prices and a negative trend in domestic equities.