💨 Abstract

The Indian rupee recorded its steepest single-day fall in six months, dropping 53 paise to hit a new intraday low of 85.80 against the US dollar on December 27. This was due to a boost in the US dollar's appeal from rising American bond yields, foreign investor selling spree, and higher crude oil prices. The rupee plunged 12 paise to 85.27

Courtesy: theprint.in

Summarized by Einstein Beta 🤖