Indian Rupee Off Record Low Against U.S. Dollar
10 November 2023 - 6:52AM
RTTF2
The Indian rupee rebounded from a record low against the U.S.
dollar in the evening session on Friday.
Fed Chair Powell's hawkish remarks overnight boosted the dollar
and weighed on the rupee in the previous session.
Powell said that policymakers are not confident that they have
achieved a sufficiently restrictive stance to return inflation to
the target.
The Fed Chair asserted that more tightening may be required if
necessary.
The Indian rupee was trading at 83.26 against the greenback,
after falling to a record low of 83.47 in the previous session. The
currency may find resistance around the 82.00 level.
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