Indian Rupee Nears Historic Low

Indian rupee is facing significant downward pressure, edging closer to an all-time low against the US dollar.

Rupee is expected to open weaker, potentially reaching a historic low of near 84/USD, driven primarily by dollar demand in the non-deliverable forward (NDF) market

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The 1-month dollar/rupee NDF rate surged to 84.25 overnight, reflecting concerns over the unwinding of the Japanese yen carry trade.

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