Rupee Hits Record Low Amid Global Economic Turmoil
The rupee fell to a record low of 92.58 against the dollar, impacted by a strong dollar and persistent foreign capital outflows. High global crude oil prices and West Asian conflicts added pressure. The Sensex and Nifty saw growth, despite major central banks' meetings ahead impacting currency strength.
- Country:
- India
The Indian rupee hit an all-time low of 92.58 against the US dollar, as global factors exert downward pressure on the currency.
Forex traders attribute the drop to a robust dollar and continued foreign capital outflows, with high crude oil prices amid Middle Eastern conflicts adding further strain.
Despite the rupee's decline, the Sensex and Nifty posted gains, while market participants await major central banks' meetings for further cues.
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