The Indian Rupee weakened against the US Dollar following stronger-than-expected economic data from the United States, which has bolstered investor confidence in the Dollar.
The Indian Rupee weakened against the US Dollar following stronger-than-expected economic data from the United States, which has bolstered investor confidence in the Dollar.
Analysts predict that the recent interest rate hike by the US Federal Reserve will continue to impact the Dollar to INR exchange rate in the coming weeks.
The widening trade deficit in India has exerted additional pressure on the Rupee, contributing to its depreciation against the Dollar.
Following the release of positive job reports from the US, the Dollar has gained ground against the Rupee, reflecting increased investor confidence in the US economy.
The Rupee weakened against the Dollar today as rising oil prices raise concerns about increased import costs for India, impacting the currency’s stability
Despite intervention efforts by the Indian central bank, the Rupee struggled to gain ground against the strengthening Dollar in today’s trading session.