💨 Abstract

The Indian rupee hit an all-time low of 85.3950 against the US dollar on Friday, due to strong demand in the non-deliverable forwards market and a bearish outlook on the local currency. State-run banks offered dollars, likely on behalf of the Reserve Bank of India (RBI), to limit losses. The rupee is expected to trade within the range of 85 to 85.50

Courtesy: theprint.in

Summarized by Einstein Beta 🤖