Foreign currency – Rayrice Forex News

Foreign currency

The rupee has depreciated by 11 percent in 2022, the worst since 2013.

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Indian Rupee It has fallen more than 11 percent against the dollar in 2022 — its weakest performance since 2013 and the worst among Asian currencies — as the U.S. Federal Reserve’s aggressive monetary policy spurred the greenback back. Rupee in 2010 It closed 2022 at 82.61 to the U.S. dollar, down from 74.29 at … Read more

Airtel Africa’s FY2Q net profit fell 21 percent year-on-year due to forex losses

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Bharti Airtel’s Africa business reported a net profit of $152 million in the fiscal second quarter, down 21 percent from a year ago, dragged down by higher finance costs due to higher foreign exchange and equity losses. Net profit for the African business also fell 14.6 percent sequentially. Airtel Africa’s revenue for the quarter ended … Read more