Rupee hits all-time low against US dollar
pre-market1 source ↓written by the desknot a recommendation
- against the US
- ₹89.66
- drop
- 98 paise
- fall on 24
- 99 paise
- by year-end
- ₹91
The Indian rupee closed at ₹89.66 against the US dollar, marking a 98 paise drop, its largest single-day fall in nearly four years. This decline is attributed to heavy dollar demand and selling pressure in equity markets. Traders are concerned as further depreciation could impact petrol prices and inflation levels. 📉
• Rupee's previous record was a 99 paise fall on 24 Feb 2022.
• Experts predict the rupee may cross ₹91 by year-end.
Immediate market implications include increased costs for imports and potential pressure on interest rates.
Not investment advice. For informational purposes only.