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

Man Arrested For Raping Six-Year-Old Girl In Bihar’s Vaishali District

The Bihar police have taken swift action in arresting a man accused of raping a…

8 mins ago

PM Modi Distributes Over 51,000 Appointment Letters In 15th Rozgar Mela

PM Modi distributed 51,236 appointment letters to newly-recruited candidates in central government departments and organisations…

3 hours ago

Indian Embassy In Berlin Holds Memorial For Pahalgam Terror Victims

The Indian Embassy in Berlin organised a solemn memorial service to honour the victims of…

4 hours ago

Joe Jonas Reflects On Disconnecting From Technology And Reliving Childhood

Pop star Joe Jonas recently performed his latest single, Heart by Heart, to a phone-free…

4 hours ago

Chennai Super Kings’ Struggles Continue As Sunrisers Hyderabad Secure Crucial Win

CSK captain Mahendra Singh Dhoni has openly acknowledged the team's ongoing struggles in the 2025…

4 hours ago

Supreme Court Confirms Disruption In Digital Services Due To National Government Cloud Outage

The Supreme Court announced on Saturday that a disruption in the National Government Cloud (NGC)…

4 hours ago