💨 Abstract

The Indian rupee hit an all-time low of 84.42 against the U.S. dollar on Tuesday due to dollar demand from foreign banks and importers. The Reserve Bank of India intervened to prevent further losses. Asian currencies were mixed while the dollar index rose. The RBI's interventions are aimed at controlling volatility while allowing gradual depreciation of the rupee.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖