MUSCAT : According to media reports, the rupee dropped to a new all-time low of 224.05 per Omani Rial due to strong demand for the U.S. dollar, driven by the maturity of positions in the non-deliverable forwards (NDF) market.
Traders indicated that the rupee’s decline was capped to some extent by likely interventions from the Reserve Bank of India (RBI), which helped limit further losses.
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