Forex Market Update: Rupee opens at record low of 86.21/$ vs Friday’s close of 85.96/$

The Indian Rupee opened at a record low of 86.21/$ on January 13, 2025, reflecting a sharp depreciation from the previous session’s close of 85.96/$. The rupee is under pressure amid a strengthening US dollar globally, coupled with rising concerns over India’s trade deficit and inflationary pressures.

Current Performance (As of 09:46:59 AM)

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  • Current Rate: ₹86.308/$ (+0.143, +0.17%)
  • Day’s Range: ₹86.103/$ – ₹86.358/$
  • 52-Week Range: ₹82.645/$ – ₹86.358/$

The dollar’s strength is fueled by robust US economic data, which has increased expectations of a hawkish stance from the Federal Reserve in the upcoming meetings. Emerging market currencies, including the Indian Rupee, have borne the brunt of this sentiment.

Market analysts anticipate further volatility in the rupee, with traders keeping a close watch on upcoming macroeconomic data, including India’s trade numbers and global oil prices, which play a pivotal role in influencing the currency’s trajectory.

Disclaimer: This content is for informational purposes only and not intended as investment advice. Please consult financial advisors for specific recommendations.