Rupee hits new lifetime low vs US dollar on hawkish Fed commentary
November 10th, 2023 13:27
The rupee dropped to a lifetime low of 83.3050 to the dollar, down from 83.2800 in the previous session. The previous lifetime low was 83.2950. "It’s clear that the Federal Reserve wants to maintain a tightening impulse. This makes sense, as any hint of neutrality would hasten a market dash to discount rate cuts," a Reuters report said quoting an ING Bank note.
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