Home Economy Dollar sales by private banks help Rupee recover from lifetime low
Economy - January 9, 2025

Dollar sales by private banks help Rupee recover from lifetime low

Dollar sales by private banks help Rupee recover from lifetime low

The rupee weakened to a record intraday low of 85.93 per dollar on Thursday, closing at 85.848 per dollar, nearly unchanged from the previous day. Pressure on the rupee was due to risk aversion toward the US dollar and selling from foreign portfolio investors. Intervention by public sector banks curbed excess volatility in the currency.

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