- INR hit a fresh lifetime low of $69.09.
- The sharp drop in Yuan - the regional anchor, has likely bolstered the bearish pressure around the INR.
The Indian Rupee (INR) fell to record low of $69.09 on Thursday due to rising oil prices and a sharp decline in the Chinese Yuan- a regional anchor
At press time, the USD/INR pair is trading at $68.95.
The Chinese Yuan (CNY) has dropped close to 4 percent in the last 14 days and is likely pulling INR and other Asian currencies lower with it.
INR has been steadily losing ground this year as oil rally put the focus back on India's widening current account deficit. Further, slowing economy and rising interest rates in the US have complicated matters for the Indian Rupee.
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