Rupee breaches 84 as oil prices, foreign outflows put strain

Quick Summary:

The rupee breached the 84 per dollar mark for the first time, reflecting RBI's strategic adjustments amid rising crude prices and geopolitical tensions.

Dealers suggest the central bank may be preparing for increased volatility due to the Iran-Israel conflict.

Despite substantial forex reserves, further depreciation of the rupee is expected to be controlled and gradual.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: IndiaArgentinaChinaIsrael

Topics: RBI intervention Business news Geopolitical developments Currency fluctuations Brent crude Foreign outflows Rising crude prices

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-12 @ 07:14:48 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 705 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 28 words per sentence (average)

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

Copyright Owner: © Times of India

News ID: 23002815

View Article Analysis

About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 11 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 11 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #28

Publisher Details

Frequently Asked Questions