Indian Rupee: Stays Under Pressure

11 Oct 2022 , 09:15 AM

The Indian rupee continues to stay under pressure amid selloff in equities and weak investor sentiments coupled with massive strength in dollar spiking back to recent highs. Hawkish signals from the Federal Reserve on continuing with aggressive rate hike stance is keeping treasury yields elevated near 4% and pushing dollar index higher. The dollar index that measures the greenback against a basket of currencies is seen hovering near recent peaks at 113. On Monday, rupee settles 4 paise lower at a fresh lifetime low of 82.34 against the US dollar. At the interbank foreign exchange market, the local currency opened at 82.68, then fell further to an all-time intra-day low of 82.69. Powered by Commodity Insights