Rupee hits record low of 89.48 against dollar
pre-market1 source ↓written by the desknot a recommendation
- against the US
- 89.48
- amid concerns
- 0.8%
- has raised fears
- 89-level
The Indian rupee fell to a new record low of 89.48 against the US dollar, dropping 0.8% amid concerns over the Federal Reserve's rate cuts and uncertainty surrounding the India-US trade deal. This breach of the 89-level has raised fears of further declines, impacting investor sentiment and emerging market currencies.
Market experts highlight that global risk aversion, driven by declines in cryptocurrencies and tech stocks, is exacerbating the situation. RBI's cautious stance on intervention adds to the volatility.
Not investment advice. For informational purposes only.