Indian Rupee hits record low over Dollar rally, equity outflows
The Indian Rupee hit a historic low today, largely owing to the US Dollar's rally and expected outflows from domestic equities. The INR fell to an all-time low of 84.4125 against USD before settling at 84.3925, the same as its closing number in the previous session. This is the fifth straight session that the currency has hit record lows.
The Indian rupee is likely to inch up at the open on Wednesday on the back of a mild uptick in its Asian peers before U.S.
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The Indian HSBC Manufacturing PMI came in at 57.5 in October vs. 56.5 prior, stronger than expected.
The Indian rupee slipped to an all-time low on Monday, pressured by weakness in regional currencies and sustained outflows ...
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.
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