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Forex News: Indian Rupee Falls To Record Low Against U.S.

Indian Rupee Falls To Record Low Against U.S. Dollar

07/13/2022 - 05:53:00 (RTTNews)

(RTTNews) - The Indian rupee touched a record low against the U.S. dollar on Wednesday, as the latter strengthened across the board and oil prices rose.

Investors focus on the release of key U.S. inflation data that could help determine Fed's path for interest rate increases.

Markets expect a 75 basis point rate hike from the Fed later this month, which is supporting the dollar.

The Indian rupee fell to a record low of 79.68 against the greenback from Tuesday's close of 79.46.

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