Rupee sinks to record low of 86.62 against $

The rupee fell to its record low of 86.62 to the dollar on Monday, which was also its steepest single-day fall in close to two years. The decline is driven by multiple global factors. “This sharp depreciation, down 2.3% since...

Tribune News Service

Chandigarh, Updated At : 09:22 AM Jan 14, 2025 IST

Photo for representational purpose only. File photo

The rupee fell to its record low of 86.62 to the dollar on Monday, which was also its steepest single-day fall in close to two years. The decline is driven by multiple global factors.

“This sharp depreciation, down 2.3% since December, is attributed to several global factors. Stronger-than-expected US job data triggered a surge in US bond yields and the dollar index, with the latter breaching the psychological barrier of 110. This has resulted in increased demand for the dollar,” Swapnil Aggarwal, Director, VSRK Capital, said.

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