Rupee closes at new low ahead of near-certain big Fed rate-hike

The mobilisation of troops by Russian President Vladimir Putin piled on more pressure on the rupee, already weighed by the surging dollar index

Photo: Bloomberg
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Photo: Bloomberg

Reuters MUMBAI
The Indian rupee closed at its lowest level ever against the U.S. currency on Wednesday, tracking the dollar index's strength as the U.S. Federal Reserve gears up for a hefty rate hike to tame inflation pressures.
 
The rupee closed at 79.9750 per U.S. dollar, down from 79.75 in the previous session. The rupee opened a tad lower at 79.79 and continued to toil lower through the session.
 
The mobilisation of troops by Russian President Vladimir Putin piled on more pressure on the rupee, already weighed by the surging dollar index.
 
The dollar index climbed to a two-decade high of 110.87.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sep 21 2022 | 4:44 PM IST

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