Rupee hits record low on importer hedging
There is persistent dollar demand, which is most likely from importers, a foreign exchange trader at a private bank said.
By Reuters | Updated:
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The Indian rupee declined to a record low on Thursday, hurt by sustained dollar demand from local importers and high crude oil prices.
The rupee was at 83.4525 against the U.S. dollar at 11:04 a.m. IST, inching past its previous low of 83.45 hit last Wednesday.
There is persistent dollar demand, which is most likely from importers, a foreign exchange trader at a private bank said.
The rupee was at 83.4525 against the U.S. dollar at 11:04 a.m. IST, inching past its previous low of 83.45 hit last Wednesday.
There is persistent dollar demand, which is most likely from importers, a foreign exchange trader at a private bank said.
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