Indian rupee hits record low against USD, raising concerns over Trump's potential impact and fund outflows.

The Indian rupee hit an all-time low against the US dollar, reaching 84.38, due to concerns over a potential second term for Donald Trump and ongoing foreign fund outflows. A State Bank of India report predicts the rupee may depreciate by 8-10% during Trump's presidency but could later strengthen. The Reserve Bank of India intervened to stabilize the currency, though foreign exchange reserves dropped to a two-month low.

November 11, 2024
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