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Rupee hits record low, logs worst decline in 7 months
short by Daisy Mowke / on Friday, 27 December, 2024
The Indian rupee fell to all-time low on Friday, as maturing non-deliverable forwards and currency futures boosted dollar demand. It weakened to all-time low of 85.8075 against US dollar, before intervention by the central bank helped it trim steep losses, according to traders. The currency settled at 85.5325, down 0.3% on the day, its worst single-day fall since June 4.
read more at Reuters