Indian rupee takes a hit against US dollar

The rupee has been hit by the strength of the US dollar, rising crude oil prices, and continuing foreign fund outflows.

Indian rupee takes a hit against US dollar
Photo by rupixen.com / Unsplash

On Thursday, the Indian rupee fell below INR 75 versus the US dollar as the Reserve Bank of India (RBI) kept bench mark lending rates unchanged.

The rupee opened unchanged at INR 74.90 versus the US dollar on the Indian interbank foreign exchange but later fell to INR 75.05 (20.44 against the UAE dirham), a 21-paise drop from Wednesday's closing.