Indian Rupee hits record low vs US dollar due to equity outflows and corporate dollar demand.
The Indian rupee hit a record low against the US dollar due to anticipated outflows and robust demand from local importers. This decline is part of a broader trend affecting emerging Asian currencies, with a stronger US dollar and a weaker Chinese yuan adding pressure. Despite India's strong economic growth, the rupee has remained around record lows, primarily due to equity outflows and corporate demand for dollars.
June 20, 2024
10 Articles