Rupee Hits Lifetime Low: The Indian Rupee hit a lifetime low level of 80.43 on Thursday after US Fed’s decision to hike interest rate by 75 basis points yet again. The domestic currency opened at a record low of 80.2850 per US dollar, down from the previous close of 79.97.
Rupee Rate Forecast
Rupee Down 15 Paise To All-Time Low Of 79.60 Against US Dollar
The rupee declined 15 paise to close at a new lifetime low of 79.60 (provisional) against the US dollar on Tuesday as a strong greenback overseas and weakness in domestic equities continued to weigh on investor sentiments.
Indian Rupee Goes From Asia’s Best to Worst in Two Weeks on Covid
The Indian rupee has turned into Asia’s worst-performing currency from being the best in the previous quarter. It’s poised for more losses as a resurgence in coronavirus cases to a record threatens to hamstring the economy.
Indian Rupee Appreciated Against the U.S. Dollar
The Indian rupee appreciated against the U.S. dollar, supported by strong local equities and the dollar index retreating from over three-month highs.
Indian Rupee Up 0.22% to 71.63 Against Dollar
Indian rupee strengthened for the third consecutive session against the US dollar on Monday, amid mixed cues from other Asian currencies due to uncertainty over US-China trade deal.
Indian Rupee opened Higher at 71.70 per Dollar Against Yesterday’s Close of 72.02.
Indranil Pan, economist at IDFC Bank said that fading inflation risks will offer RBI room to provide greater flexibility to adjust rates either way depending on what’s needed.
Rupee Weakens For Third Day
The Indian rupee weakened for the third day in a row against the U.S. dollar. The home currency depreciated 0.44 percent intraday to 72.18 against the greenback.