Rupee falls to fresh low on relentless strength in dollar after Fed hike

Forex traders await cues on RBI's intervention strategy post the recent slump in rupee

rupee swap

Bhaskar Dutta Mumbai
The rupee depreciated to a fresh low against the US dollar on Friday as sentiment for the domestic currency remained weak in the face of a rapidly strengthening greenback. The dollar has surged globally over the last couple of days as the Federal Reserve has signalled a longer-than-expected tightening cycle.

The rupee touched a new intraday low of 81.25 per US dollar in the first few minutes of trade on Friday. At 09:25 am IST, the local currency was trading at 81.13. The rupee had plunged 1.1 per cent against the dollar on Thursday, closing at a record low of

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First Published: Sep 23 2022 | 10:01 AM IST

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