Rupee hits record low of 85.84 vs $
The rupee hit a lifetime low of 85.84 against the dollar, closing at 85.83, despite RBI intervention. The drop was influenced by a strong dollar, poor capital flows, and weak equity markets. Foreign investors withdrew $1.1 billion in January, and broader economic concerns, including rising US bond yields and HMPV virus fears, added to the pressure.
The rupee hit a lifetime low of 85.84 against the dollar, closing at 85.83, despite RBI intervention. The drop was influenced by a strong dollar, poor capital flows, and weak equity markets. Foreign investors withdrew $1.1 billion in January, and broader economic concerns, including rising US bond yields and HMPV virus fears, added to the pressure. What's Your Reaction?
