The Indian rupee has reached its lowest level in two years, depreciating 0.7% in a single day to 86.7550 against the US dollar. Since December, the rupee’s value has dropped by 2%, driven by India’s slow economic growth and expectations of an interest rate cut by the central bank in February. Analysts predict further depreciation unless significant interventions are made. The decline has also strained the central bank’s reserves, highlighting broader economic challenges.
The Indian rupee continues to decline against the US dollar, reaching its lowest level in two years. This trend was observed on Monday (January 13). The weakening of India’s central bank has been cited as the reason behind this decline, according to a Reuters report.
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