The Economic Times daily newspaper is available online now.

    Rupee drops to record low on Middle East worries, Fed rate outlook

    Synopsis

    The rupee opened at 83.5100 to the U.S. dollar, down from 83.4500 in the previous sessions and dipping past the 83.4550 record low hit on April 4.

    Rupee drops to record low on Middle East worries, Fed rate outlook
    The Indian rupee dropped to a record low at open on Tuesday, tracking losses in Asian peers on concerns over a wider Middle East conflict and expectations that the Federal Reserve will wait longer to cut interest rates.

    The rupee opened at 83.5100 to the U.S. dollar, down from 83.4500 in the previous sessions and dipping past the 83.4550 record low hit on April 4.

    The dollar index was at its highest in nearly six months. Asian currencies dropped, with the Korean won and the Indonesian rupiah leading the way.


    (You can now subscribe to our ETMarkets WhatsApp channel)

    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more

    (You can now subscribe to our ETMarkets WhatsApp channel)

    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in