Indian Rupee Falls To Record Low Against U.S. Dollar
21 Setembro 2022 - 11:19PM
RTTF2
The Indian rupee weakened against the U.S. dollar in morning
deals on Thursday, as a third straight 75 basis point rate hike
from the U.S. Federal Reserve lifted the latter.
The Fed increased interest rates by another 75 basis points and
signalled more hikes in the coming months.
Fed Chair Jerome Powell reiterated the central bank's strong
resolve to bring inflation down to 2 percent, pledging to "keep at
it until the job is done."
Indian shares fell, tracking weakness in Asian markets following
the Fed decision.
The dollar index touched a 20-year high of 117.78 and treasury
yields jumped in reaction to the rate hike move.
The Indian rupee declined to 80.69 against the greenback,
hitting a record low. At Wednesday's close, the pair was worth
79.92.
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