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The rupee hit a record low of 84.5075 per dollar on Friday before closing at 84.4450, up 0.06%. The Reserve Bank of India sold dollars and told some banks to cut speculative bets against the currency, which helped it recover.
Central bank intervention has limited the rupee's losses, which reduces the immediate impact on Indian import costs. The currency remains under pressure from the strong dollar.
reuters.comJaspreet KalraNov 22, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
