On Friday, the rupee experienced its steepest decline to date, reaching an all-time low of 85.53 against the US dollar, driven by domestic factors such as month-end dollar demand and limited RBI intervention. The local currency’s overvaluation and potential for further depreciation are highlighted.
Dollar flat near one-week high as investors await Warsh’s Jackson Hole debut
The euro and sterling were subdued near one-week lows against the greenback, last at $1.1652 and $1.3597, respectively, though both remained on track for a
August 28, 2026