Rupee hits record low on US election updates, RBI likely steps in
Wed, Nov 6, 2024 11:01 AM

Rupee hits record low on US election updates, RBI likely steps in

A Flip by Shubhangi Gupta
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The Indian rupee weakened to an all-time low on Wednesday as early results of the U.S. presidential election spurred a rally in the U.S. dollar, prompting the central bank to intervene. The rupee fell to 84.1950 against the dollar, down about 0.1% from its Tuesday close. The rupee's relatively muted response was due to RBI likely selling dollars, like it has done many times the last month.

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