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.
External Affairs Minister S Jaishankar expressed grave concerns regarding the recent violent incident at a…
The Sensex slipped slightly by 68.22 points, or 0.09%, to trade at 78,714.02, while the…
Delhi's air quality continues to deteriorate, with the Air Quality Index (AQI) hovering in the…
Peel Regional Police announced on Monday the arrest of four individuals following a series of…
Over a thousand Canadian Hindus gathered outside the Hindu Sabha Mandir in Brampton to protest…
Tensions flared on Sunday as Indian consular officials visited the Hindu Sabha Mandir. Following the…