text

Rupee hits all-time low of 68.86 against US dollar

​The RBI on Thursday intervened to steady the rupee as it plunged by 30 paise to hit all-time low of 68.86 on Thursday due to broad strength in the US dollar, capital outflows from emerging markets, and worries about the demonetisation drive+ .

text

Scramble as India scraps large banknotes

Indian petrol stations were swamped yesterday with people keen to spend their 500-rupee (S$10.50) and 1,000-rupee bank- notes, as they reacted to an unexpected government move to scrap the use of these notes.