Under Pressure
As the Indian rupee reached a record low of 87.58 to the dollar on Thursday, it finds itself at a critical juncture, navigating a sea of global and domestic pressures.
The Reserve Bank of India today fixed the reference rate of the Rupee at 64.3516 against the US Dollar and 72.5178 for the Euro.
The corresponding rates were 64.3485 and 72.4886, on June 05, 2017.
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According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 83.1616 and 58.71 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.
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The SDR-rupee figure will be based on this rate, the statement added.
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