Indian rupee drops to record low, tracking Asian peers
The rupee dropped to a lifetime low of 83.3050 to the dollar, down from 83.2800 in the previous session. The previous lifetime low was 83.2950.
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Representative image. Source: Reuters
The Indian rupee dropped to a record low against the U.S. dollar on Friday on the back of weakness in Asian peers, prompted by the rise in U.S. yields.
The rupee dropped to a lifetime low of 83.3050 to the dollar, down from 83.2800 in the previous session. The previous lifetime low was 83.2950.
"We will have to see how much follow-through is there," a trader at a bank said. "Today is Friday, which makes the price action from here all the more important."
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Written By: Reuters
Updated: Fri, Nov 10, 2023
12:19 pm
12:19 pm
Mumbai, Reuters
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