Skip to content
 
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

Saif Ali Khan Bhopal inheritance
Entertainment

​Saif Ali Khan loses £1.4 billion Bhopal inheritance as Indian court labels estate ‘enemy property’

Brothers deny assaulting police during Manchester Airport brawl
News

Brothers deny assaulting police during Manchester Airport brawl

More For You

Bangladesh seeks US deal to shield garment industry from tariffs

Workers are engaged at their sewing stations in a garment factory in Savar, on the outskirts of Dhaka, on April 9, 2025. (Photo by MUNIR UZ ZAMAN/AFP via Getty Images)

Bangladesh seeks US deal to shield garment industry from tariffs

BANGLADESH, the world's second-biggest garment manufacturer, aims to strike a trade deal with the US before Donald Trump's punishing tariffs kick in next week, said the country's top commerce official.

Dhaka is proposing to buy Boeing planes and boost imports of US wheat, cotton and oil in a bid to reduce the trade deficit, which Trump used as the reason for imposing painful levies in his "Liberation Day" announcement.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Bond yields ease following Starmer’s support for Reeves

THE COST of UK government borrowing fell on Thursday, partially reversing the rise seen after Chancellor Rachel Reeves became emotional during Prime Minister’s Questions.

The yield on 10-year government bonds dropped to 4.55 per cent, down from 4.61 per cent the previous day. The pound also recovered slightly to $1.3668 (around £1.00), though it did not regain all its earlier losses.

Keep ReadingShow less
modi-trump-getty
Modi shakes hands with Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Indian exporters watch closely as Trump says trade deal with India likely

THE US could reach a trade deal with India that would help American companies compete more easily in the Indian market and reduce tariff rates, President Donald Trump said on Tuesday. However, he cast doubt on a similar deal with Japan.

Speaking to reporters on Air Force One, Trump said he believed India was ready to lower trade barriers, potentially paving the way for an agreement that would avoid the 26 per cent tariff rate he had announced on April 2 and paused until July 9.

Keep ReadingShow less
Kolhapuri sandal sales surge in India post Prada controversy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Kolhapuri sandal sales surge in India post Prada controversy

INDIAN footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft.

Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origins.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less
© Copyright 2025 Garavi Gujarat Publications Ltd & Asian Media Group USA Inc