Re closes at new all-time low
Financial Express Lucknow|January 01, 2025
THE RUPEE CLOSED at a fresh low due to broad-based dollar bids and declining Chinese yuan, said forex traders.
ANUPREKSHA JAIN

On Tuesday, after hitting a low of 85.66 against the dollar, the currency settled at 85.61, down by 7 paise or 0.08%.

Towards the end of the trading session, the Reserve Bank of India stepped in to prevent any sharp fall in the domestic currency, helping it to recover from the low of 85.66.

Consequently, state-owned banks sold dollars on behalf of the central bank.

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