Rupee Plunges to New Low Amid Global Economic Uncertainty, September Fed Rate Hike Looms
Rupee Plunges to New Low Amid Global Economic Uncertainty, September Fed Rate Hike Looms
The Indian rupee started Monday on a weak note, falling to a new low against the US dollar due to higher crude oil prices and geopolitical tensions.
Read More: India's Economy Expected to Grow at 7-7.2% in FY27 Despite Global Headwinds
Brent crude futures, the global oil benchmark, climbed 1.34 per cent to $89.28 a barrel, further exacerbating the downward pressure on the rupee.
Global Economic Uncertainty Looms Over Rupee's Downward Spiral
The rupee opened at 95.56 against the US dollar at the interbank foreign exchange market, 13 paise lower than its previous close.
Experts say that growing expectations of a September US Federal Reserve rate hike are also contributing to the dollar's strength and the rupee's weakness.
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I write about the forces shaping business and the global economy, from startup growth and changing markets to international trade and policy. My work focuses on breaking down complex developments into clear, practical insights and understanding what they could mean for businesses, investors, and the wider economy.
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