Rupee closes at near 18 month-low, ends at 75.52 to the dollar

The rupee touched 76.92 a dollar in the intraday trade on April 22 last year.

The Indian rupee closed at a nearly 18-month low on Thursday, a day after the Reserve Bank of India (RBI) maintained a status quo on policy rates but tightened excess liquidity from the banking system.

The partially convertible currency closed at 75.52 a dollar, the lowest since July 1, 2020, when it had touched 75.59. The rupee had closed at 75.45 a dollar on Wednesday, the policy day.  

According to currency experts, pressure on the rupee would continue; some even said the domestic currency may cross its record low levels as the US Federal Reserve withdraws its easy money policy and move