Kolkata: The Rupee slipped to a new record low of 95.07 against the US dollar on Thursday, PTI has reported. The Indian currency fell against a backdrop of the US-Iran war showing no signs of ending, Brent crude rising to $120 a barrel and FIIs continuing to sell Indian equities amid the ongoing West Asia conflict.
In the second week of April, to stem the fall of the value of the Indian currency, RBI attempted to curb specualtion. It barred authorised banks from offering non-deliverable forward contracts to resident and non-resident Indians. In the onshore front too, RBI directed banks to put a cap on their daily net open positions in the onshore deliverable rupee market at $100 million. The banks had to comply by April 10, 2026 and the rupee firmed up against the dollar but it haw slipped again.
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