💨 Abstract

The Indian Rupee declined by 17 paise to a record low of 85.91 against the US dollar on Jan 8th due to higher crude oil prices, stronger American currency, and outflow of foreign funds. The decline is attributed to a strengthening US dollar, boosted by positive economic indicators, increased US Treasury yields, and robust labor market data.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖