India’s currency Rupee has declined to a record low against the US dollar today. It fell to its all-time low of 83.62 against the US dollar. The currency had closed at 83.4550 on Wednesday.
The dollar index which gauges dollar’s strength against a basket of six currencies, was trading higher by 0.18% at 105.44 and strengthened against most Asian currencies.
Outflows of foreign capital from domestic equities and corporate dollar demand have weighed down Rupee to trade near record lows for weeks despite strong growth in the Indian economy.
However, Rupee is still the best performing currency in Asia this year after the Hong Kong dollar.
