Brief by Shorts91 Newsdesk / 05:16am on 19 Dec 2024,Thursday Business
The Indian rupee plunged to an all-time low of ₹85 against the US dollar on Thursday, following a 25 bps rate cut by the US Federal Reserve and a cautious outlook for 2025. The decline marks the fastest depreciation pace in years, with the rupee sliding from ₹84 to ₹85 in just two months. Weak capital inflows, a widening trade deficit, and slowing domestic growth have compounded the pressure. Other Asian currencies, including the Korean won and Malaysian ringgit, also weakened by 0.8%-1.2%. Analysts expect the rupee’s volatility to persist in 2025 despite RBI interventions.
