Indian Rupee Slips to All-Time Low Amid Strong Dollar and Market Instability

Jan 09, 2025 Komal Das

The Rupee hit a record low on Wednesday, driven by rising dollar rates and weak domestic equities

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By how much did the Rupee fall? The Rupee fell to 85.8562 against the dollar as of 3:29 PM, Bloomberg reported

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By how much did the dollar rise? The dollar index rose 0.1% as the yuan and rupiah weakened. State banks' dollar sales curbed rupee losses modestly

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What caused the Rupee to fall? The Rupee fell as the Fed's hawkish stance in December boosted the dollar. While the Fed projects 50 basis points of cuts in 2025, investors anticipate only 38 basis points

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Market volatility and $2 billion in foreign outflows pressured the Rupee as Sensex and Nifty stayed flat in correction territory

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