Rupee logs steepest intraday decline in nearly two years
The currency made a sharp recovery to close at a record low of 85.54, down 28 paise compared to Thursday’s close of 85.27. It opened at 85.32 against the dollar on Friday.
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The Indian rupee slipped by 55 paise to touch an all-time low of 85.82 against the US dollar during intraday trades on Friday, on continued dollar strength and month-ended demand for the greenback from importers, including oil companies.
This was the steepest single-day (intraday) fall for the local currency since February 6, 2023, when it had declined by 91 paise.
2024-12-28
By
Ravindra Kumar Tiwari
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