INR Vs USD: Experts believe that the rupee is unlikely to recover soon.
The rupee hit a fresh record low of 70.32 against the US dollar in early trade on Thursday. Experts believe that the rupee is unlikely to recover soon. Asia's currencies also remained under pressure, with the dollar holding near 13-month peaks as political turmoil in Turkey and concerns about China's economic health continued to support safe-haven assets. However, the government said on Wednesday that the foreign exchange reserves are comfortable by global standards and can combat any undue volatility in the rupee.