The Indian rupee has hit a record low of 86.12 against the US dollar following a stronger dollar and better-than-expected US jobs data. This trend has been further fueled by higher crude oil prices and continued outflows from foreign investors. Experts suggest that the Reserve Bank of India's decision to allow the rupee to depreciate may be a response to global and domestic pressures, including the cautious stance of the Federal Reserve and solid economic data. The market now anticipates only one interest rate cut by the US Fed in 2025.
Indian Rupee Plummets to Record Low: Causes and Implications
The Indian rupee has recently hit a record low against the US dollar, reaching 86.12 per dollar. This significant depreciation has raised concerns among economists and policymakers alike.
Causes of the Rupee's Decline
Implications of the Rupee's Depreciation
Top 5 FAQs and Answers
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In the wake of the tragic stampede at New Delhi Railway Station, the Indian Railways has announced plans to utilize artificial intelligence and create permanent holding areas at 60 railway stations throughout the country to better manage crowds. The decision comes after 18 lives were lost in a stampede caused by overcrowding during the Maha Kumbh Mela in Prayagraj. A special campaign has also been launched to address potential issues and gather input from passengers and station staff.
Zen Technologies, a defence firm, has reported a 30% increase in net profit for the quarter ended December 2024. Despite a 7% decrease in its share prices, the company saw a turnover of Rs 19.07 crore with 1.39 lakh shares being traded. Further, the company has also recorded a significant growth in its revenue, EBITDA, and order book in the last quarter.
The Bengaluru Metro Rail Corporation Limited (BMRCL) has received numerous complaints about the recent increase in metro fares. In response, the BMRCL has decided to lower fares by 30% in certain areas. The Managing Director, Maheshwar Rao, stated that the decision was based on feedback from passengers. This reduction in fares will benefit 30-45% of passengers and will also introduce peak and non-peak hour fares similar to taxi services like Ola and Uber. This move is expected to make commuting more affordable for a large number of people in Bengaluru.
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Indian actress Keerthy Suresh has been announced as the lead in the upcoming tech thriller "Kannivedi", directed by debutant Ganesh Raj. This marks Suresh's return to Tamil-language films after her recent success in the Telugu-language biographical drama "Mahanati". Along with Suresh, the film's cast includes VJ Rakshan, Ajay Ghosh, and Namita Krishna. The film follows the story of a media student who faces unforeseen challenges while investigating a news story.
The Indian Railways Ministry has placed an order for production of 16-car and 24-car variants of the Vande Bharat Sleeper trains, with plans to commence full-scale production in 2026-2027. French manufacturer Alstom and Hyderabad-based Medha Servo Drives Pvt Ltd have been tasked with supplying propulsion systems for the trains. The first 16-car Vande Bharat train has already completed successful testing, positioning the Indian Railways for a major development in high-speed transportation.
JioHotstar, a new streaming platform formed from the merger of JioCinema and Disney+ Hotstar, aims to make premium entertainment accessible to all Indians. With content in 10 languages and partnerships with major studios, JioHotstar offers a single app for users to watch their favorite shows, movies, and live sports. The platform also introduces Sparks, featuring India's top digital creators, and will broadcast major cricket and football tournaments. The plans start at Rs 149 for three months for mobile users.
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JPMorgan Chase is set to begin a series of job cuts starting in February 2025, with the initial round expected to affect fewer than 1,000 employees. The bank claims these layoffs are a routine part of managing their business, and that only a small number of employees will be impacted. However, more layoffs are expected throughout the year and there is no exact number on how many people will be affected. Amidst the news, JPMorgan also states that they have open positions and will redeploy some of the affected employees. This announcement comes after Infosys fired 500 fresh recruits in Mysuru, causing controversy and outrage amongst netizens.