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Rupee closes at record low hurt by weak yuan, rise in US bond yields
Hindustan Times Rajasthan
|December 17, 2024
MUMBAI: The Indian rupee declined to its weakest closing level on record on Monday, hurt by a rise in US bond yields, weakness in the Chinese yuan, and data which showed that India's merchandise trade deficit widened to a record high in November.
The rupee closed at 84.8625 against the US dollar, down nearly 0.1% on the day.
At the interbank foreign exchange, the rupee opened at 84.83 and touched 84.89 against the greenback during intraday trade.
On Friday, the rupee rebounded from its all-time low level and settled with a gain of 8 paise at 84.80 against the US dollar. The unit's previous all-time low level was recorded on December 12 when it closed at 84.88 against the dollar.
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