Rupee hits all-time low of 89.50 amid market slide
after close1 source ↓written by the desknot a recommendation
- as equity markets
- 89.50
- dollar index rose
- 0.04%
- 100.05
- crude also fell
- 1.21%
The Indian rupee plunged 78 paise to an all-time intra-day low of 89.50 as equity markets declined and the dollar strengthened. The dollar index rose 0.04% to 100.05, reflecting increased demand for the greenback. Brent crude also fell 1.21% to USD 62.64 per barrel, adding pressure on the rupee.
This significant depreciation may impact import costs and inflation, influencing trading strategies in the currency and commodities markets.
Not investment advice. For informational purposes only.