Why did the Indian rupee hit a record low against the dollar?

The rupee's record low is attributed to various market pressures, prompting a likely intervention by the Reserve Bank of India.

What is the Reserve Bank of India's role in currency depreciation?

The RBI intervenes in the foreign exchange market to manage volatility and arrest sharp declines in the rupee's value.

How are Indian stock markets performing amid the rupee's fall?

Major Indian stock indices like Sensex and Nifty are trading lower, indicating a general market downturn.

Home / Business and Economy / Rupee Hits Record Low, RBI Steps In

Rupee Hits Record Low, RBI Steps In

21 Nov

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Summary

Indian rupee reached an unprecedented low of 89.48 against the dollar.
Reserve Bank of India is expected to intervene to stabilize the currency.
Stock markets, including Sensex and Nifty, experienced a downturn.

The Indian rupee has fallen to an all-time low, trading at 89.48 against the US dollar. This significant depreciation has prompted expectations of intervention from the Reserve Bank of India to stabilize the currency.

The domestic stock markets are also experiencing a downturn, with the Sensex and Nifty indices trading in the red. This coincides with notable corporate developments, including Reliance Industries pausing its imports of Russian oil and Adani Enterprises finalizing its divestment from Adani Wilmar.

Further market shifts are indicated by a SEBI proposal to reclassify Real Estate Investment Trusts (REITs) as equity instruments. Additionally, ongoing disputes between restaurants and food delivery platforms over customer data sharing, alongside a fall in the crypto market, add to the complex financial landscape.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.