Rupee Nears Record Low as RBI Raises Repo Rate to 5.50%
The Indian rupee approached its lifetime low following the Reserve Bank of India's decision to raise the repo rate to 5.50%. RBI Governor Sanjay Malhotra stated that the currency might be undervalued despite the decline. Analysts noted that the RBI's hawkish stance and a higher inflation outlook could support the rupee in the medium term.
ET Markets·



