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India Business News: The Indian rupee has remained stable despite challenges from oil prices, US yields, and portfolio outflows. The currency has been range-bound with low
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Moreover, foreign fund outflows from the domestic equity markets also weakened the local currency. The rupee has breached the 83-level against the dollar for the fifth time since August 14.
Many countries are now pushing for a new finance phenomenon called ‘de-dollarization’, which can prove to be a major setback for the US and a trade boom for India.
The rupee depreciated 38 paise to an all-time low of 82.68 against the US dollar in early trade on Monday (October 10).