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Indian Rupee hits record low as oil shock tests RBI’s firepower
April 30th, 2026 - 08:49 GMT
Dr. Mansour Al-Maswari

Mansour Al-Maswari

Indian Rupee hits record low as oil shock tests RBI’s firepower

ALBAWABA- India’s currency is under renewed strain, with the rupee sliding to a record low against the U.S. dollar in late April, intensifying pressure on the Reserve Bank of India to steady markets while shielding the broader economy. The rupee weakened to around 96 per dollar on Thursday, marking a sharp decline from levels near 91–92 earlier this year and extending a multi-year slide that has eroded more than 12% ...
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When the price of wheat or cooking oil or milk in local markets increases, even by the smallest amount, the impact is catastrophic and immediate. (Shutterstock)
October 7th, 2018 - 05:10 GMT

Famine to Hit Millions in Yemen Due to Currency Crisis

Some 94 per cent of all the people voted in favour of the idea to either cancel the NOC permanently or at least drop it after an expat completes two years with his/her sponsor. (Shutterstock)
October 7th, 2018 - 05:01 GMT

Oman's Manpower Takes a Shot at Democracy, but Will It Work?

According to Dubai FDI Monitor, 56 of total investment went into strategic projects while 43 percent of projects were using high and medium technology. (Shutterstock)
October 7th, 2018 - 04:52 GMT

Dubai Still an Investment Darling, With Dh17.7 Billion in FDI

The regulator has approved the sale of TRL 18 billion in subordinated debt by various banks. (Shutterstock)
October 4th, 2018 - 07:49 GMT

Who Bought TRL 10.9 Billion of Turkish State Banks’ Debt Last Week?

The executive council's new strategy depends on five priorities to ensure that Dubai will not get affected by major changes in the future by leading the market and being a pioneer, especially with the most promising tourist source markets. (Shutterstock)
October 4th, 2018 - 07:39 GMT

By 2025, Dubai Aims to Attract 25 Million Tourists and Become Most Visited City in the World

The final share price is expected to be set on 16 October. (AFP)
October 4th, 2018 - 07:35 GMT

Mubadala’s CEPSA Back in Trading at $9.22 Billion Valuation

In June, Saudi Arabia, Kuwait and the UAE pledged $2.5 billion to help revive Jordan’s economy at the summit in Mecca gathered by Saudi King Salman Bin Abdulaziz. (AFP/ Photo Yousef Allan)
October 4th, 2018 - 07:26 GMT

GCC Leaders Due in Jordan to Activate Mecca Summit Pledge of $2.5 Billion

Following the last rate hike, Erdogan said his patience with interest rates had limits. (AFP)
October 4th, 2018 - 07:17 GMT

How Will Erdogan Address Turkey's Highest Inflation Rate in 15 Years, at 25 Percent?

The new bankruptcy law will introduce measures to allow company reorganization where the management is allowed to remain in place and continue business operations during the administration of a case, similar to the Chapter 11 process in the US. (Shutterstock)
October 4th, 2018 - 07:05 GMT

Bahrain Launches New Bankruptcy Law to Keep Investments Flowing

“The Aramco postponement is a benefit for the country, and the acquisition of SABIC makes more sense,” Haddad told the Citi Middle East Media Summit. (AFP)
October 4th, 2018 - 06:53 GMT

Why Is Delaying Saudi Aramco's IPO Good for the Country?

Saudi Arabia is mostly exporting its oil through its western ports on the Red Sea. (Shutterstock)
October 4th, 2018 - 05:59 GMT

Saudi Joins the $64 Billion CPEC With Oil Refinery in Pakistan

A total of 570 energy projects worth USD 77 billion are currently looking for financing. (Shutterstock)
October 4th, 2018 - 05:48 GMT

570 Arab Energy Projects Face a Financing Gap of $77 Billion

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