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Banking system liquidity surplus shrinks to Rs 16,875 cr, lowest since Jan 22

Banking system liquidity surplus shrinks to Rs 16,875 cr, lowest since Jan 22

Market participants said that due to scheduled outflows from the banking system on account of advance tax payments and goods and services tax, the surplus in the system liquidity narrowed. Illustration: Uttam Ghosh Key Points When there was surplus liquidity,

Rupee set for worst year since FY14, hits fresh low of 93.72 per dollar

Rupee set for worst year since FY14, hits fresh low of 93.72 per dollar

Foreign exchange traders said the Reserve Bank of India intervened by selling dollars, helping limit the rupee’s fall. Illustration: Dominic Xavier/Rediff Key Points The rupee has depreciated 8.8 per cent so far this financial year. The price of the Indian