Indian Rupee Hits Record Low of 95.8525 Against Dollar
The Indian rupee reached an all-time low of 95.8525 per dollar amid high oil prices and foreign outflows. The central bank likely intervened to support the currency.
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India's rupee fell to a record low of 95.8525 per United States dollar as high oil prices and foreign capital outflows strained the economy. The currency declined 1.4% during the week, hitting record lows in each trading session. Persistent energy risks threaten to push the current account deficit beyond the sustainable 2% of GDP threshold.
