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Rupee slides 12p to 87.58 ahead of monetary policy
Financial Express Kochi
|February 07, 2025
THE RUPEE ON Thursday depreciated 12 paise to close at 87.578 to a dollar, as expectations for a 25-basis-point rate cut by the monetary policy committee of the Reserve Bank of India led to short bets in the non-deliverable forwards market.
THE RUPEE ON Thursday depreciated 12 paise to close at 87.578 to a dollar, as expectations for a 25-basis-point rate cut by the monetary policy committee of the Reserve Bank of India led to short bets in the non-deliverable forwards market. During the day, the rupee fell to 87.590.
Persistent foreign outflows and the uncertainty over US tariffs have also weighed on the rupee, said forex traders. The dollar index rose to the 108-level after hitting a one-week low on Wednesday.
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