Indian rupee under pressure after Fed rate hike
after close1 source ↓written by the desknot a recommendation
- following the US
- 96-96.05 per dollar
- Dollar Index above
- 100
- level
- 96 per dollar
The Indian rupee opened weaker at 96-96.05 per dollar following the US Federal Reserve's quarter-point rate hike, which lifted the Dollar Index above 100. This situation is compounded by rising oil prices and reduced foreign investment in Indian assets, increasing demand for dollars. Traders are closely monitoring the 96 per dollar level, as a breach could trigger further selling pressure.
Not investment advice. For informational purposes only.