A new red line for India’s rupee is forming as pressure mounts

Quick Summary:

India’s central bank draws a new line in the sand for the rupee at the 84-per-dollar level.

The RBI wants to keep the rupee in a tight range, with 84 being more of a psychological level, he added.

It came under pressure as foreigners pulled out more than US$1 billion from local stocks in August amid worsening global sentiment.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIndia

Topics: Fell Dollar According Level 9875 Central Pressure Rupee Global Bank All-time

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-09 @ 12:35:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 474 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 21995323

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Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 19 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 2 hours ago

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Publisher ID: #25

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