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Currency News

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(08 May 2025, 14:23)

INR slumps as a correction from seven-month high extends

Indian Rupee stayed slippery today, adding to recent losses. INR has come off a seven-month high against the US dollar this week and nervous equities are weighing on the sentiments now. INR is currently quoting at 84.97 per US dollar, down 22 paise on the day. It fell to a low of 85.07 per US dollar in intraday moves. The US dollar index has spiked to one week high near 100 mark. Dollar has edged up after the Federal Reserve held its key interest rate unchanged in a range between 4.25%-4.5% at the end of a two-day monetary policy meeting on Wednesday and stated that the uncertainty about the economic outlook has increased further. On the NSE, USD/INR futures are quoting at 85.49, up 0.60% on the day.
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