scorecardresearchIndian rupee set to trade near historic low in coming three months

Indian rupee set to trade near historic low in coming three months

Updated: 04 Aug 2022, 08:40 AM IST
TL;DR.
After a month of trading near a nadir of 80.065 per dollar, the currency strengthened to a one-month high of 78.490 on Tuesday, providing relief for the Reserve Bank of India, which has been burning through foreign currency reserves defending 80 per dollar.
A vegetable vendor (L) hands a twenty Indian Rupee currency note change to a customer in Mumbai on July 19, 2022. - The Indian rupee fell to more than 80 per US dollar for the first time on record on July 19, as the greenback extended its rally and foreign capital outflows intensified. (Photo by INDRANIL MUKHERJEE / AFP)

A vegetable vendor (L) hands a twenty Indian Rupee currency note change to a customer in Mumbai on July 19, 2022. - The Indian rupee fell to more than 80 per US dollar for the first time on record on July 19, as the greenback extended its rally and foreign capital outflows intensified. (Photo by INDRANIL MUKHERJEE / AFP)