Business

Indian Rupee Hit An All-Time Low Against US Dollar

The Indian rupee hit an all-time low against the US dollar on Wednesday ahead of important U.S. inflation data and new interest rate forecast from Fed policymakers.

The Indian rupee fell 0.067 points, or 0.08 percent to close at 83.53 against the US dollar on Wednesday.

Non-deliverable forwards indicated that the rupee will open at 83.58-83.60 to the US dollar, up from 83.5750 in the previous session and above its lifetime low of 83.5650 set in April.

On Tuesday, the rupee fell below its long-held support of 83.50-83.55.

The rupee and other Asian currencies are under pressure as the dollar index rises amid speculation that the Fed may cut rates later this year.

The U.S. central bank is largely expected to announce no changes to the policy rate later today or at its next meeting in July.

Also read: Markets Close Higher; Sensex Soars 149 Points

Spriha Rai

Recent Posts

Supreme Court Extends Relief To Udhayanidhi Stalin In Sanatan Dharma Remarks Case

The court extended his exemption from appearing in lower courts until February and granted four…

6 minutes ago

Supreme Court Issues Notices To CBI & ED On Manish Sisodia’s Bail Request

On Friday, the SC issued notices to the CBI and ED regarding Manish Sisodia's request…

28 minutes ago

AI & Surveillance Systems To Revolutionize Maha Kumbh 2025 Experience

The UP government is using AI, social media, and surveillance to ensure safety for 45…

54 minutes ago

Maha Kumbh 2025: Ultra-Modern Cruises To Become A Key Attraction For Devotees

The Yogi Adityanath-led UP government will introduce luxury cruises to transport devotees from Kashi to…

2 hours ago

Aam Aadmi Party Kicks Off ‘Revdi Par Charcha’ Campaign Ahead Of Delhi Elections

On Friday, AAP launched its 'Revdi Par Charcha' campaign to engage Delhi residents in the…

2 hours ago

Canada Denies Allegations Against Indian Leadership; Rejects Criminal Links

The Canadian govt addressed allegations linking Indian leaders to criminal activities, stating there is no…

3 hours ago