Re hits record low on buzz of Malhotra being dovish
Tuesday, 10 December 2024
The Indian rupee hit a record low against the dollar, closing at 84.85. Sanjay Malhotra's appointment as RBI governor sparked speculation of a dovish policy shift, with analysts predicting a rate cut as early as February. This expectation, coupled with India's weak economic outlook, could further depreciate the rupee to 86 by March 2025.
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