Rupee Hits Two-Week Low as Dollar Demand Pressures Currency
The rupee weakened to its lowest level in a fortnight on Thursday, pressured by clustered dollar demand at the daily reference rate. Mild Reserve Bank of India intervention helped contain the currency's decline.
By Jaspreet KalraThe Indian rupee slipped to its weakest level in a fortnight on Thursday, pressured by clustered dollar demand at the daily reference rate alongside likely outflows linked to overseas debt repayments.Mild interventions by the Reserve Bank of India, though, helped contain the curren…