May 05, 2025 09:21 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi holds meeting with Defence Secy as India plans retaliation against Pahalgam attack | Terror hideout busted in Kashmir's Poonch amid India-Pak border tensions after Pahalgam attack | India snaps water flow to Pakistan from Baglihar dam on Chenab river in Pahalgam fallout | Trump imposes 100 percent tariff on non-US films, says 'Hollywood dying a very fast death' | Pahalgam fallout: India suspends Pakistan I&B minister Ataullah Tarar's X account | India bans all imports from Pakistan in Pahalgam terror attack fallout | Yunus aide threatens Bangladesh would occupy North East states if India attacks Pakistan | Pahalgam aftermath: Pakistan test-fires ballistic missile with 450-km range amid escalation in tension with India | 'Your govt stands at a historic crossroads': Tejashwi Yadav to PM Modi on caste census move | Pahalgam attack: Supreme Court stays deportation of PoK-born man, his family with Indian passports
Indian Rupee
Photo Courtesy: Representational image from Pexels/Cottonbro Studio

Indian rupee slips to all-time low on outflow worries

| @indiablooms | Aug 05, 2024, at 08:22 pm

Mumbai/IBNS: Indian rupee opened at a record low against the US dollar on Monday, on worries that the risk off prompted by US recession worries could lead to foreign outflows, reports said.

According to reports, the rupee opened at 83.78 to the US dollar compared to its previous close of 83.75, and slipped past the all-time low of 83.7525 hit on Friday (Aug 2).

The selloff in US and Asian equities following a disappointing jobs report spurred worries of foreign outflows from India and other emerging markets, reports Reuters.

The sharp selloff may prompt the Reserve Bank of India (RBI) to let USD/INR move higher to 83.90, Reuters reported, quoting a trader at a public sector bank.

Meanwhile, the US dollar index, which measures the greenback against a basket of currencies including the yen and the euro, slipped 1.15 percent to 103.22.

Indian stock market benchmark indices, BSE Sensex and NSE Nifty 50, opened with major cuts on Monday following a slump in Asian markets, as reported by Mint.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu