The Indian currency traded today at 84.86 rupees per dollar, thus updating the previous historical minimum reached last week.
This happened after the appointment of Sanjay Malhotra as the new governor of the Reserve Bank of India. Investors believe that the Reserve Bank of India will cut the rate in February, and this affects the Indian currency.
As the agency emphasizes, against the background of optimistic expectations, foreign funds are also returning to the Indian market. From December 2 to 6, foreign investors bought Indian shares worth $3 billion, which is the highest figure since June 2023.