Indian rupee drops to record low as risk aversion boosts dollar

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The rupee opened at 83.5550 to the U.S. dollar, weakening past 83.5475

Nimesh Vora, Reuters News

April 19, 2024

PHOTO

MUMBAI: The Indian rupee opened to a record low on Friday as reports of Israeli strikes in Iran prompted investors to exit risk assets and lap up safe havens.

The rupee opened at 83.5550 to the U.S. dollar, weakening past 83.5475, its previous record low, and down from 83.5375 on Thursday.

U.S. equity futures and Asian shares declined while safe haven demand lifted U.S. Treasuries. (Reporting by Nimesh Vora; Editing by Mrigank Dhaniwala )

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