US Yield and Dollar Pullback Slows Rupee Slide
A pullback in US Treasury yields and the dollar has slowed the Indian rupee's decline toward a record low. The Reserve Bank of India continues intervening to prevent the currency from breaching key psychological levels.
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The India rupee held steady against the dollar during Thursday's late evening session, pausing near its record low of 96.96 per dollar.
The currency found a temporary buffer as United States Treasury yields and the greenback pulled back from recent highs. However, sustained portfolio outflows and elevated commodity costs continue to weigh on domestic markets.
