💨 Abstract

On Tuesday, the Indian rupee reached an all-time low, driven by increased dollar demand from foreign banks and importers, including local oil companies. The rupee hit 84.4150, surpassing its previous record low of 84.4125 from last week. Intervention by the Reserve Bank of India and state-run banks offering dollars intermittently helped prevent further losses.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖