THE RUPEE ENDED at another all-time low on Monday due to weakness in the Chinese yuan and strong dollar bids from importers, likely related to month-end payments, said forex traders. However, dollar sales by the state-owned banks on behalf of the Reserve Bank of India (RBI) capped the decline.
The rupee ended at 85.12 against the dollar, compared with its Friday close at 85.10. The offshore Chinese yuan declined to 7.30, down 0.2%.
This story is from the December 24, 2024 edition of Financial Express Lucknow.
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This story is from the December 24, 2024 edition of Financial Express Lucknow.
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