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
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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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