Forex
Rupee Hits Two-Month Low as Risk Aversion Drives Global Markets
The Indian rupee has hit its lowest level in over two months after falling 37 paise to close at 96.31 against the US dollar on Thursday.
This decline is attributed to risk aversion in global markets, driven by surging global bond yields and selling pressure from foreign investors, according to Forex traders.
The rupee initially opened at 95.95 but lost ground to touch an intraday low of 96.34 against the American currency before settling at 96.31 (provisional) at the end of Thursday's trading session.