Rupee Registers 4-Paise Decline Against US Dollar Amid Stronger American Currency and Surging Crude Prices
Monday, 15 July 2024, 05:03
Rupee Weakens Against US Dollar
The rupee witnessed a 4-paise decline against the US dollar.
Reasons for Decline
- Factors: Strong performance of the US dollar and high crude oil prices.
- Efforts: Forex traders and RBI measures.
Brent crude price hit $85.14, dollar index recorded at 104.21, with weak US CPI data.
The fall in the rupee was partially curbed by inflows and record-high FX reserves.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.