The Indian rupee chalked up its tenth straight monthly fall after slipping versus the dollar on Monday, on concerns over oil prices and in line with losses in most other Asian currencies.
The rupee last traded at 82.78 per U.S. dollar on Monday, compared with 82.47 in the previous session.
The currency depreciated 1.8% in October. The last time it had a positive month against the dollar was in December 2021.
This is rupee’s longest monthly losing run since 1985. The string of monthly losses has put the rupee on course for its worst annual performance in almost a decade.
“Fundamental issues such as high current account deficit and persistent inflation remain impediments (for the rupee),” Srinivas Puni, managing director at QuantArt Market Solutions, said.
