Finance
EnglishRupee tumbles to 91.96 against the dollar amid outflows
The rupee took a tumble to 91.96 against the dollar on Friday, thanks to foreign outflows and importers craving dollars. With trade talks stalled, exporters are feeling jittery. The RBI is stepping in, but only a little. The rupee has dropped 7.05% this financial year, and it might just hit 93 if things don’t change soon!
few days ago | Anjali Kumari
Quick rundown
1.Rupee hits a new low of 91.96 per dollar.
2.RBI intervenes cautiously in currency markets.
3.Exporters hold dollars amid trade talk stalls.
4.Rupee undervalued by 3% to 4% according to experts.
5.Continued FPI outflows pressure the Indian rupee.
