About a fortnight after breaching 90 mark, the Indian Rupee is inching towards 91, hitting a fresh all-time low. At the time of filing this report, the Rupee was trading at 90.904 per US dollar, with an intraday high of 90.957, just shy of 91.
Addressing a gathering in Delhi, Governor Das highlighted the complexity of the current economic landscape, stating, "There is a multiplicity of factors. The dollar index has become quite strong. The bond yields in the US have reached an all-time high, but, if you look at the volatility of t
In this context, Gaurang Somaiya, forex and bullion analyst, MOFSL, said, "The central bank has accumulated these reserves to be utilised in these kinds of situations," and added that investors are on the edge at this point as there are a lot of moving parts which are impacting the market.