Brief by Shorts91 Newsdesk / 05:43am on 13 Jan 2025,Monday Business
The Indian rupee plunged to an all-time low of 86.35 against the US dollar on January 13, 2025, amid a rally in the dollar fueled by robust US job growth. This marks a 38-paise drop from the previous close. The dollar index rose 0.22% to a two-year high of 109.72, with US bond yields steady at 4.76%. Surging crude oil prices, with Brent Crude at $81/barrel and WTI at $77.92/barrel, alongside foreign capital outflows and weak domestic markets, pressured the rupee further. Additionally, India’s forex reserves dipped by $5.69 billion, exacerbating the economic strain.
