Indian Rupee Nears Record Low Despite RBI Rate Hike
The Indian rupee fell to a five-month low, nearing a record low on Wednesday, even after an interest rate hike and signals of further monetary tightening. Traders indicated that the policy was not perceived as hawkish enough to support the Asian currency.
The Indian rupee fell to a five-month low and came close to a record low on Wednesday, despite an interest rate hike and signals of further monetary tightening, with traders saying the policy was not hawkish enough to support the Asian currency. The Reserve Bank of I…