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Rupee hits record low for sixth straight session
Hindustan Times Rajasthan
|December 25, 2024
The Indian rupee weakened to its all-time low for the sixth consecutive trading session on Tuesday as a rise in U.S. bond yields boosted the dollar and strong demand for the greenback from importers added to the lingering pressure on the local currency.
MUMBAI:
The rupee declined to 85.2075 against the U.S. dollar, eclipsing its previous record low of 85.12 hit on Monday. It ended the session at 85.20, down 0.1% on the day.
The Reserve Bank of India's intervention, likely via dollar sales, again helped limit the rupee's losses, traders said.
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