The rupee plunged to a four month-low during trade on Wednesday after the Reserve Bank of India’s (RBI) policy announcement. The central bank announced that it will buy ₹1 lakh crore of bonds in the secondary market this quarter (Q1) under the G-Sec Acquisition Programme 1.0 (GSAP). The Indian currency fell 1.5% to 74.55 against the U.S. dollar, witnessing biggest one-day drop seen since August 2019.
Rupee sees biggest one-day fall vs US dollar in 20 months
