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

External Affairs Minister S Jaishankar Raises Alarm Over Attack On Hindu Temple In Canada

External Affairs Minister S Jaishankar expressed grave concerns regarding the recent violent incident at a…

21 mins ago

Indian Market Open Flat Amid US Election Focus, Select Sectors Show Early Gains

The Sensex slipped slightly by 68.22 points, or 0.09%, to trade at 78,714.02, while the…

35 mins ago

Delhi’s Air Quality Deteriorates; Smog Blankets National Capital

Delhi's air quality continues to deteriorate, with the Air Quality Index (AQI) hovering in the…

59 mins ago

Four Arrested, Officer Injured In Violent Protest Outside Canadian Hindu Temple

Peel Regional Police announced on Monday the arrest of four individuals following a series of…

1 hour ago

Large Gathering Of Canadian Hindus Protest Following Attack On Brampton Temple

Over a thousand Canadian Hindus gathered outside the Hindu Sabha Mandir in Brampton to protest…

1 hour ago

Canada Suspends Officer For Attending Pro-Khalistan Protest Outside Hindu Temple

Tensions flared on Sunday as Indian consular officials visited the Hindu Sabha Mandir. Following the…

1 hour ago