3Photo© hindustantimes.comRupee breaches 84 as oil prices, foreign outflows put strain
, 4 news, 2 views
The rupee breached the 84 per dollar mark for the first time, reflecting RBI's strategic adjustments amid rising crude prices and geopolitical tensions. Dealers suggest the central bank may be preparing for increased volatility due to the Iran-Israel conflict. Despite substantial forex reserves, further depreciation of the rupee is expected to be controlled and gradual.
“ We can now expect the rupee to further fall to 84.25 in the short term. Importers will continue buying at all dips and exporters may now hold their exports with a stop below 83.95. The Iran-Israel…
Sanjay Leela Bhansali,
Rupee Declines Below 84 Vs Dollar for the First Time in History: Why…