The rupee hit a historic low of 83.67 against the dollar due to significant outflows, importer demand, and global factors. The Reserve Bank of India's...
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The Indian rupee hit a record low against the US dollar due to anticipated outflows and robust demand from local importers, with the central bank's role crucial in managing its value amidst broader Asian currency trends and the US dollar's strength. This marked a significant decline to 83.6650 against US dollar in the latter half of the trading session, before settling at 83.6425 primarily due to equity outflows and corporate demand for dollars.
The rupee hit a historic low of 83.67 against the dollar due to significant outflows, importer demand, and global factors. The Reserve Bank of India's...
At the interbank foreign exchange market, the rupee opened at 83.52 and lost further ground to trade at 83.54 against the greenback in initial deals.
India's foreign exchange reserves rose to $653.7 billion during the week ended on June 21, with the rupee hitting a record low against the dollar.
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