The downside in the Indian rupee, which has been steadily depreciating over the past months, is unlikely to abate soon as it hit yet another record low on Monday.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, highlighted the factors behind the price drop, stating, "Gold's weakness persisted with prices falling below USD 2,550 and near Rs73,500 on MCX as the dollar climbed above 106.50 and edged closer to 107. The US CPI