Why Is the Indian Rupee Hitting a Record Low Every Day? Full Details Explained
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- The Indian rupee is now trading around a record low of 97 against the US dollar.
- This fall is due to the US-Iran war, oil price surge, and foreign investor outflow.
- As the RBI has intervened multiple times, the rupee has slightly surged on Friday.
The Indian rupee continues to trade near the record low of 97 against the US dollar. Although it recovered slightly on Friday, the broader sentiment remains concerning. The fiat currency is under rising pressure due to increasing crude oil prices, foreign investor outflow, and heightened geopolitical tensions.
Why is the Indian Rupee Falling?
The month of July this year is defined by global financial instability. In line with this larger trend, the Indian rupee is also experiencing huge pressure. It has fallen by around 2% against the US dollar, and is now trading near a record low of 97. While it recently reached …
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