The Economic Times

Rupee hits 94: Abhishek Goenka on the $30 billion unwind that could keep the currency under pressure for days

The Reserve Bank of India's intervention to curb arbitrage trades has triggered a disorderly unwinding of bank positions, causing the rupee to slide. This regulatory action, coupled with global risk-off sentiment and geopolitical tensions, is expected to keep the rupee under pressure for several days. Experts suggest the rupee could depreciate by around 10% in this cycle.