Rupee Nears Record Low Even as RBI Signals Further Tightening

Rupee Nears Record Low Even as RBI Signals Further Tightening A weak monsoon is raising food-price risks, while the falling rupee is making imports more expensive. This article is for subscribers only. Good morning... I’m Samie Modak in Mumbai, where investors are watching to see if the rupee sinks to a record low even after the RBI’s rate hike yesterday. Local stocks may find little relief today, with losses on Wall Street spilling into Asian markets early Thursday. While Indian equities fell after the RBI raised rates as expected and signaled more tightening, the rupee slipped too, but for a different reason: traders felt the central bank had not done enough to drain excess cash and support the currency.