‘Ask a man his age, he said 1 dollar’: Chhattisgarh CM takes up digging over plummeting rupee

Raipur: Chhattisgarh Chief Minister Bhupesh Baghel took a dip in the plummeting rupee against the US dollar on Friday, October 7, sharing an incident on Twitter where an octogenarian told his age equivalent to a “dollar.” The congress leader quoted an incident on Twitter, saying: “Found an elderly person today – I asked grandfather, how old are you? He said 1 dollar. Then his grandson told him from behind that his grandfather had turned 82 years old. longevity.”

Earlier in morning trading on Friday, the rupee plunged to an all-time low of 82.22 against the US dollar in morning trading. Depending on this, the US Federal Reserve’s position on monetary policy may also be influenced.

The rupee closed the previous session at 81.88. Treasury yields are expected to open higher on Monday as debt provision concerns may resurface after weaker-than-expected demand at a debt auction on Friday. Bond prices and yields are inversely related.

Also Read:Rupee drops 16 paise to all-time low of 82.33 against US dollar in early trading

The dollar index, which tracks the greenback against a basket of six major competitors, had changed little at 112,032 after rallying from a two-week low. Oil prices rose due to a “deep” supply constraint by the Organization of the Petroleum Exporting Countries (Opec) and its allies, and are poised for more volatility. The price of crude oil is heading for the largest weekly increase since the early Russian invasion of Ukraine this year.

A weak rupee has led to the sale of dollars by the Reserve Bank of India to support the currency. But this has raised concerns about India’s dwindling foreign exchange reserves. Last week, RBI also raised its repo rate last week to contain the depreciation of the local currency against the dollar.

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