Rupee Hits Record Low Amid Economic Growth Concerns and Strong Dollar Bids
The Indian rupee plummeted to its weakest level on record on Monday, falling 0.2% to close at 84.6950, amid concerns over slowing economic growth and strong dollar bids in the non-deliverable forwards market. The currency’s decline was triggered by disappointing corporate earnings for the June-September quarter, which led to outflows from local equities and a … Read more