Rupee hits record low for 6th day, ends at 85.2/$
The rupee dropped to an all-time low of 85.21 against the US dollar for the sixth consecutive session due to rising US bond yields and strong demand for the dollar from importers. The RBI intervened to limit losses, but underlying issues such as tepid capital flows and a widening trade deficit persist.
The rupee dropped to an all-time low of 85.21 against the US dollar for the sixth consecutive session due to rising US bond yields and strong demand for the dollar from importers. The RBI intervened to limit losses, but underlying issues such as tepid capital flows and a widening trade deficit persist.
