A new low for rupee! Currency falls over 60 paise; reaches 91.74 against US dollar - The Times of India
The Indian rupee weakened further in early trading, slipping to a fresh record low against the US dollar. It opened nearly 23 paise lower, touching the 91.20 mark, reflecting continued pressure from global and domestic factors. Strong demand for the dollar, driven by foreign fund outflows and rising US bond yields, added to the rupee’s decline. Market participants also remained cautious ahead of key global economic cues and ongoing geopolitical uncertainties, which increased risk aversion. Additionally, elevated crude oil prices continued to strain India’s import bill, further impacting the local currency. Despite periodic intervention by the Reserve Bank of India to curb excessive volatility, the rupee struggled to regain strength. Analysts believe near-term movement will depend on global interest rate expectations, inflation trends, and capital flows. The weakening rupee could raise import costs, particularly for fuel and essential commodities, affecting inflation and corporate margins in the coming months.
The Key points
- Rupee falls 23 paise in early morning trade
- Indian currency touches record low of 91.20 per dollar
- Strong US dollar weighs heavily on emerging markets
- Foreign investor outflows add pressure on rupee
- Rising US bond yields support dollar strength
- High crude oil prices impact India’s import costs
- RBI intervention limits extreme volatility
- Global economic uncertainty drives cautious sentiment
- Weak rupee may increase inflationary pressures
- Currency movement linked to global rate expectations
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