Indian Rupee Plunges to 96.31, Marking Biggest Fall in Over Two Months

Economic Times Markets · stocks

The Indian rupee experienced its sharpest decline in over two months, closing at 96.3150 against the US dollar. This significant fall occurred on a day when major Indian equity indices recorded their longest losing streak in 25 years, dropping by half a percentage point. Rising US bond yields contributed to the depreciation of emerging market currencies, pushing the dollar index up to 101.9. The rupee had previously closed at 95.83 and had breached the 96-level twice in three days.