Due to outflows and US election anxiety, the rupee drops to a historic low of 84.09 versus the US dollar
Due to ongoing stock market withdrawals and concerns about the outcome of the U.S. election next week, the Indian rupee fell to a record low vs the dollar on Thursday. Inching past the all-time low of 84.0900, the rupee fell to a record low of 84.0925 to the US dollar. "The dollar has a strong bid, although it appears that the previous sessions are repeating themselves. According to a trader from a private bank, the Reserve Bank of India (RBI) is unlikely to relax its control over the rupee and is anticipated to maintain it within a narrow range. "Today, they (RBI) are also active." The rupee has outperformed its main Asian peers and its ...