12/12/2024, 6:36:02 pm

Rupee depreciates 1.40% so far in 2024, likely to head to 85 against USD

The Indian rupee, which has remained volatile throughout the year has depreciated 1.40% so far in 2024, and is likely to hit 85 against the US dollar in coming weeks due to outflows of foreign investors, strong dollar index, and weak growth data, among other factors, despite its relatively stable performance compared to other emerging market peers.