Rupee hits all-time low pressured by weak Yuan, strong dollar bids

Quick Summary:

Rupee rebounds after hitting Rs 85.11, settles at Rs 85.

Meanwhile, dollar-rupee forward premiums rose on Monday with the 1-year implied yield up 2 basis points at 2.24% while the 1-month forward premiums rose to 20 paisa.

Rupee falls 1 paisa, hits new all-time low of 84.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Currency market Dollar bids Forex reserves Weak yuan Indian economy RBI interventions Federal reserve policy Dollar-rupee Importers dollar demand US dollar Rupee all-time low Indian rupee Currency depreciation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-23 @ 16:06:48 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 423 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 24595005

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