Rupee slips to 93.31 against US dollar after RBI rollback
Business
The rupee slipped to 93.31 against the US dollar on Tuesday, down 18 paise from Monday.
This dip happened right after the RBI rolled back some rules that had limited how banks could trade foreign currency, basically making it easier for banks to try different trading moves.
Experts expect rupee volatility
With these restrictions partially rolled back, experts think the rupee might see more ups and downs since banks now have more freedom to speculate.
On top of that, tensions between the US and Iran could push up oil prices, which usually puts extra pressure on currencies like ours.
Even though Asian stock markets are doing OK, it hasn't really helped the rupee bounce back yet.