💨 Abstract

The Indian rupee recorded its steepest fall in nearly two years on Monday, plunging 55 paise to reach a historic low of 86.59 against the US dollar. The decline was due to the strengthening of the US dollar, surging crude oil prices, and foreign capital outflow from Indian equities. The Reserve Bank of India may change its stance towards stabilizing the rupee amid dwindling currency reserves.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖