The Indian Rupee, after bravely fighting off depreciation for sometime has it an all-time low against the United States Dollar.
The Indian currency dropped to the low of 83.985 against the US dollar. This means that one single dollar would amount to around Rs 83.985.
The currency recovered slightly from the fall but continued to be on a trajectory of decline. At the time of writing, the Indian Rupee stood at 83.9768.
According analysts, this fall would have been greater had it not been for the Reserve Bank of India to intervene.
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The Indian markets appear to have reacted to this development. Following the news, the Indian indices were trading in red.
The BSE Sensex was trading in decline, with a drop of 0.13 per cent or 104.67 points, taking the value to 82,247.97.
When it comes to NSE Nifty, the index dropped by 0.12 per cent or 29.05 points, decreasing in value to 25,169.65.
On the other hand, the Nifty Bank also gained in size as the banking index rose marginally by 0.082 per cent or 42.35 points, climbing to 51,442.60 points.
The Indian Rupee also declined against the British Pound. The Rupee stood at 110.51 against a single British Pound. The Indian currency stood at 22.37 against the Saudi Riyal. In addition, the currency reached the value of 22.87 against the UAE Dirham.
