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Rupee slips to all-time low pressured by weak yuan
December 24, 2024
|Mint Chennai
The Indian rupee weakened to its lifetime low on Monday, pressured by weakness in the offshore Chinese yuan and strong dollar bids from importers, likely related to month-end payments, while state-run banks' dollar sales capped the decline.
The rupee declined to 85.12 against the US dollar, hitting an all-time low for the fifth consecutive trading session and inching past the previous record low of 85.10 hit on Friday. The currency ended the session at 85.1175, down 0.1% on the day.
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