The rupee fell to intraday low of 53.44 as worries mount about India's fiscal and economic challenges, as well as continued uncertainty about taxation for overseas investors, sparking worries of continued foreign outflows.
Dollar purchases from oil importers, foreign banks also pushing up pair. USD/INR breaks above minor resistance at 53.25, the top of the channel from the gains since early March. Next immediate resistance is at 53.51, the December 29 high.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
