Rupee weakens past ₹96 per dollar after Fed rate hike
pre-market1 source ↓written by the desknot a recommendation
- against the US
- ₹96.10
- ₹96 level
- 24 July
- rate hike
- 25 basis points
- 4 September
- has depreciated
- 148 paise
The rupee fell to ₹96.10 against the US dollar, marking its first breach of the ₹96 level since 24 July. This decline follows the 25 basis points rate hike by the US Federal Reserve, which has strengthened the dollar and pressured emerging-market currencies. Since 4 September, the rupee has depreciated by 148 paise, or over 1.4%.
• Dollar index up 0.10% at 100.07
• Elevated crude oil prices also weigh on the rupee.
Not investment advice. For informational purposes only.