Explainer: Why rupee hit record low against US dollar - Qoneqt
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    Diksha D Jadhav in India

    20 Jun 04:09 PM


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    Explainer: Why rupee hit record low against US dollar

    The Indian rupee hit a record low against the US dollar due to anticipated outflows and robust demand from local importers, with the central banks role crucial in managing its value amidst broader Asian currency trends and the US dollars strength. This marked a significant decline to 83.6650 against US dollar in the latter half of the trading session, before settling at 83.6425 primarily due to equity outflows and corporate demand for dollars.