Rupee hits one-month low amid rising geopolitical concerns

The Indian rupee experienced a decline on Wednesday, marking its largest single-day drop in a month due to concerns about increased geopolitical tensions between India and Pakistan, as well as a decrease in other Asian currencies.

The Indian rupee ended the day down by almost 0.5 per cent at 84.8250 against the US dollar, its weakest showing since April 9.

A trader at a Singapore-based hedge fund said that the rupee is expected to continue experiencing occasional pressure depending on how the situation progresses.

Attribution: Reuters

Subediting: Y.Yasser