The Indian rupee declined to a record low against the US dollar on Thursday weighed down by broader strength in the greenback amid demand from local importers.
Rupee fell to its all-time low of 83.62 against the US dollar. The local currency had closed at 83.4550 in the previous session.
The dollar index strengthened against most Asian currencies and Chinese yuan also hit its weakest level since November 2023.
Strength in US dollar came after the Swiss National Bank reduced interest rate, underscoring the divergence in monetary policies among global central banks as the Federal Reserve delays easing policy, Bloomberg reported.
The rupee is still the best performing currency in Asia this year after the Hong Kong dollar.
(To be updated)
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Published: 20 Jun 2024, 03:11 PM IST
