
Rupee at record low: Markets eye RBI’s next move as currency breaches 89; corporates’ worries mount – The Times of India
The rupee’s trajectory has become a key concern for financial markets. Banks have reduced trading exposures, while numerous importers with large unhedged positions are facing losses. Corporates engaged in over-the-counter forex derivative transactions, anticipating stable rupee levels, are reportedly worried as the currency crosses 89. The financial sector remains uncertain whether the Reserve Bank of…