Rupee at Record Low: Indian Currency Weakens

  • The Indian Rupee weakens further, hitting a new all-time low against the US Dollar.
  • On March 22nd, the Rupee closed at ₹83.4250 per US Dollar.
  • This surpasses the previous record low set just a day earlier.
  • Experts cite a confluence of factors:
    • Increased demand for US Dollars from Indian importers.
    • A strengthening US Dollar globally.
    • Outflows of foreign investment from Indian markets.
  • The Reserve Bank of India (RBI) is closely monitoring the situation.
  • The short-term impact could be felt by Indian businesses that import goods and travelers exchanging currency.

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