Currency: What's Happening With Indian Rupee And The US Dollar?
The rupee has once again dropped, hitting a record low against the US dollar, slumping to hit 84.71 against the USD. The US dollar is currently sitting at 106, up 0.42% in the early, around 12:26 IST time. Also Read: Cardano: Can ADA Break The $2 Price Ceiling By Mid December 2024? Currency Update: Indian Rupee Records New Lows, What Happened? Image Courtesy: Pixabay The Indian rupee recorded a new blow to its valuation on Monday. The early hours of trading reported a staggering outlook of the rupee, displaying a noteworthy drop in its valuation. The INR is currently sitting at 84.61, hitting a new low against the USD. The drop in INR has been primarily spurred by the slow economic growth data that has recently been released. The fresh statistics have revealed that the Indian economy has slowed much more than the anticipated markers, likely pushing the Reserve Bank of India to intervene and cut rates. The INR is already battered due to equity outflows that are triggered by the recent e...