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Indian Rupee Hits Record Low Against US Dollar, RBI Intervenes

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Source: Reuters
Indian Rupee Hits Record Low Against US Dollar, RBI Intervenes
Photo: Reuters
TL;DR

The Indian rupee has dropped below 83 to the US dollar for the first time since October 2022, prompting the Reserve Bank of India (RBI) to intervene. The rupee's decline is attributed to the rise in US yields, and the RBI's intervention is aimed at stabilizing the currency. Other Asian currencies, including the Korean won, Malaysian ringgit, and Indonesian rupiah, have also weakened against the US dollar.

Topics:businessfinance#exchange-rate#finance#indian-rupee#intervention#reserve-bank-of-india#us-dollar
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  1. Indian rupee drops below 83/USD, RBI likely intervenes  Reuters
  2. USD/INR Price News: Rupee renews yearly low past 83.00 on China concerns, India inflation, Fed Minutes eyed  FXStreet
  3. (INR USD) India Rupee Weakens Close to its Record Low on Monday  Bloomberg
  4. Indian rupee falls, caught between dollar rally and likely RBI intervention  Reuters
  5. Rupee falls below 83 to lowest against US dollar since October 2022  The Economic Times
  6. View Full Coverage on Google News

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