Finance
The Indian rupee fell below 83 to the US dollar on Monday for the first time since October 2022, as a rise in US yields weighed on Asian currencies.
By 09:06 a.m. IST, the rupee was trading at 83.0500 to the dollar, down from 82.8450 on Friday.
The 10-year US Treasury yield increased to 4.18%, while several Asian currencies fell more than 0.5%.
“Clearly, it’s all about the RBI (Reserve Bank of India),” a dealer at a bank said.
“If the RBI does not push it (USD/INR) below 83, you will see a decent-sized move higher.”
Source:FE
