💨 Abstract

The Indian rupee plunged to a record low of 87.58 against the US dollar on Thursday due to speculation about a potential rate cut by the Reserve Bank of India (RBI) in its upcoming monetary policy meeting and the broad strength of the American currency. The local unit has lost over 2% so far this year, making it one of the worst-performing Asian currencies.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖