Rupee hits record low against US dollar, 2nd time this week
Persistent foreign fund outflows and elevated crude oil prices impacted the Indian rupee, forex traders said.
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Persistent foreign fund outflows and elevated crude oil prices impacted the Indian rupee, forex traders said.
The rupee rose against the US dollar in early morning trade on Wednesday after hitting a record low on Monday.
‘Focus on managing economy, not media headlines’: Rahul Gandhi to PM Modi as Indian rupee plummets - As the rate of the Indian rupee has taken a significant fall, Congress leader Rahul Gandhi slammed PM Modi for “managing media headlines.”
Rupee to Dollar: Forex traders and market trackers said risk appetite has weakened amid rising bond yields in the US and mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks.
With the rupee hitting an all-time low, imports, foreign education, and travel could all get expensive. Here’s why.