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Indian rupee hits record low, RBI steps in
Nada Ali Published in Amwal Al Ghad on 14 - 01 - 2025

The Indian rupee hit a record low on Tuesday due to strong dollar bids in the non-deliverable forwards (NDF) market, while likely intervention by the Reserve Bank of India limited the losses.
The rupee reached a new all-time low of 86.6475 before ending the day at 86.63 against the U.S. dollar, a decrease from its previous close at 86.5750.
The currency faced downward pressure throughout the session due to widespread dollar demand driven by expiring positions in the NDF market.
Attribution: Reuters
Subediting: Y.Yasser

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