Rupee hits closing low; RBI dollar sales hold it below 92
The Indian rupee hit a record low of 91.99 against the dollar, with a 7.6% decrease in the current financial year and a 2.35% drop in just one month. Pressure from importers, corporates, and a strong dollar index contributed to the decline. While RBI intervened to prevent the rupee from crossing 92, experts predict it will surpass that mark in the near future due to a lack of foreign support.