GgoogleIN first seen 1 d ago, last 31 min ago, peak #2

Rupee Near Record Lows Against Dollar

Original: usd inr

The Indian rupee is trading near record lows against the US dollar, hovering around 96.5 per dollar. RBI governor Sanjay Malhotra argued the rupee may be undervalued and that markets can be irrational, while analysts point to a strong dollar, elevated US yields and oil prices as pressure points. Softer crude and reduced expectations of further Fed rate hikes are offering some relief.

Why now: The rupee touching record-low territory is drawing close attention from traders and the central bank.

Indian rupeeUS dollarReserve Bank of IndiaSanjay MalhotraUS Federal Reserve

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Evidence

• Rupee undervalued; RBI will ensure stability in INR, helping it find its correct value · YourStory.com
• Rupee may be undervalued, markets can be irrational: RBI governor Sanjay Malhotra · The Times of India
• Rupee rises 10 paise to 96.65 against U.S. dollar in early trade · The Hindu
• Rupee Weakens Near Record Lows As Firm Dollar, High US Yields And Oil Weigh · Investing.com India
• Rupee Holds Near 96.5 As Softer Oil And Fading Fed Hike Bets Offer Some Relief · Investing.com India

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