Indian rupee falls to 94.10 against USD 4th straight day
Business
The Indian rupee dropped to 94.10 against the US dollar on Thursday, marking its fourth straight day of decline.
It's lost 118 paise this week alone, mainly because of ongoing conflict in West Asia, pricier crude oil, and a stronger dollar.
Dilip Parmar says RBI interventions failed
To help steady things, the Reserve Bank of India has tried capping dealers' positions and tightening rules in currency markets.
But as analyst Dilip Parmar points out, "Central bank interventions failed to arrest the slide as a simultaneous rally in crude oil and the US dollar exerted additional downward pressure."
so these efforts haven't made a big dent yet.