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Rupee slides steepest in over two-and-a-half years
The Business Guardian
|May 09, 2025
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.
At the interbank foreign exchange, the domestic unit opened at 84.61 and moved between an intra-day high of 84.52 and a low of 85.77 against the greenback.
Cette histoire est tirée de l'édition May 09, 2025 de The Business Guardian.
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