The rupee hit 80 per dollar for the first time ever on Tuesday, as traders focus on central bank meetings this week, especially the US Federal Reserve.
India's central bank intervened in the currency market on Tuesday to help the rupee steady slightly after the unit weakened to 80.05 per dollar, notching a record low for a seventh successive session.
The rupee hit 80 per dollar for the first time ever on Tuesday, after breaching a series of all-time lows and falling over 7 per cent this year from about 74 at the start of 2022, tracking a rampant greenback. What does that rapid rupee weakening mean for you?
The rupee reversed sharp gains from earlier in the session on Monday, and started its fall toward 80 per dollar on worries of persistent forex outflows.