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Saturday, October 12, 2024

Rupee breaches 84 as oil prices, foreign outflows put strain

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.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4N5Goiu

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