Rupee hits new low of 85.80/$, biggest 1-day fall in 2 years
The rupee fell to a record low of 85.53 against the dollar, driven by panic dollar buying and increased demand from the month-end, leading RBI to intervene by selling dollars. Despite RBI's intervention, higher US Treasury yields, crude oil prices, and foreign fund outflows kept the rupee under pressure.
The rupee fell to a record low of 85.53 against the dollar, driven by panic dollar buying and increased demand from the month-end, leading RBI to intervene by selling dollars. Despite RBI's intervention, higher US Treasury yields, crude oil prices, and foreign fund outflows kept the rupee under pressure.
