Rupee hits record low of 94.85 amid geopolitical tensions
after close1 source ↓written by the desknot a recommendation
- per dollar
- 94.85
- 31 paise
- 94.54
- fell
- 12-year low
- prices surged
- 3%
The rupee closed at a record low of 94.85 per dollar, down 31 paise from 94.54. Rising oil prices and stalled U.S.-Iran talks contributed to this decline, alongside continued foreign outflows. The real effective exchange rate also fell to a 12-year low, indicating ongoing undervaluation of the rupee. 📉
• Crude oil prices surged over 3%
• Broader weakness seen in Asian currencies, including the Philippine peso and Indonesian rupiah
The RBI's earlier measures to curb speculation have lost effectiveness, allowing further downward pressure on the rupee.
Not investment advice. For informational purposes only.