The Indian rupee weakened to 84.40 against the US dollar due to foreign fund outflows and strong dollar demand. Rising inflation and the RBI’s intervention efforts, which have impacted forex reserves, contribute to the pressure. Despite market interventions, the rupee’s depreciation continues, with analysts closely watching the 84.50 level as a potential turning point.
Related Posts
PAN 2.0 Project approved by Cabinet – top points for taxpayers to know
Prime Minister Modi’s Cabinet has approved the Rs 1435 crore PAN 2.0 project, modernizing taxpayer services. This initiative promises faster, eco-friendly PAN/TAN registration and validation, […]