Rupee hits record low for 6th day, ends at 85.2/$

Quick Summary:

The rupee dropped to an all-time low of 85.21 against the US dollar for the sixth consecutive session due to rising US bond yields and strong demand for the dollar from importers.

The RBI intervened to limit losses, but underlying issues such as tepid capital flows and a widening trade deficit persist.

The National Pension System or NPS is a measure to introduce a degree of financial stability...

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Article Details

Author / Journalist: Reuters

Category: EconomyBusiness

Markets: India

Topics: Business news Dollar demand from importers RBI intervention in forex market Rupee to dollar exchange rate history Rupee hits record low US bond yields impact Trade deficit and rupee depreciation Mumbai currency exchange rates

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-25 @ 05:03:15 (1 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 464 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 23 words per sentence (average)

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

Copyright Owner: © Times of India

News ID: 24656318

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 6 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 5 hours ago

Coverage Areas: India

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Publication Timezone: GMT +5:00

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News Language: English

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Publisher ID: #28

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