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Rupee Slumps 81p in Steepest Single-Day Fall in Over 2.5 Years
Financial Express Pune
|May 09, 2025
The rupee saw its steepest single-day fall in more than two-and-a-half years and settled 81 paise lower at 85.58 against the US dollar on Thursday, weighed down by heightened geopolitical tensions between India and Pakistan.
Forex traders said investors resorted to risk aversion in the domestic markets after the Pakistani military attempted a number of military targets in northern and western India using drones and missiles that were neutralised by Indian defence system.
Besides, heightened geopolitical risks, positive US dollar index and a rise in crude oil prices also weighed on the rupee.
This story is from the May 09, 2025 edition of Financial Express Pune.
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