Rupee skids sharply before RBI applies the brakes
The rupee Friday saw its steepest intraday decline since March 2023 to 85.80 per US dollar before erasing some losses to close at another all-time low of 85.53/$1. The local unit, which hit fresh lows on 8 straight trading days, retreated on domestic factors amid what some analysts described as its estimated ‘overvaluation’ relative to … Read more