Rupee buckles under position unwinding; dollar demand builds

The Indian rupee fell for the sixth time in seven sessions, briefly crossing 86/USD before closing at 85.90.

It has lost nearly 1.5% in value since last Monday, becoming one of Asia’s worst-performing currencies during this period.

Persistent corporate dollar demand and fading speculative interest have pressured the rupee.

Forex advisors suggest covering dollar payables early as further rupee weakness is expected amid global uncertainty.