The Indian rupee registered its sharpest single-day fall in over three months, slipping past the 89-per-dollar mark for the first time. The currency plunged 78 paise to hit an all-time low of 89.46 amid global market weakness, strong US dollar, FPI outflows, and uncertainty around US-India trade relations.
The rupee fell 11 paise amid a strong US dollar, rising Brent crude prices ($69.53/barrel), and foreign fund outflows. ECB’s unchanged rates and US economic resilience added pressure. Experts warn of further volatility.
India’s low-cost airline SpiceJet on Thursday called for 10-15 per cent hikes in airfares to sustain the operation in the wake of rising prices of jet fuel and the depreciation of the Indian Rupee. Full story on Dynamite News:
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