- Advertisment -

The rupee fell 51 paise to a record low of 80.47 against the US dollar.ATN News

- Advertisment -

On Wednesday, the rupee fell 22 paise to 79.96 against the dollar.

The US Federal Reserve hiked interest rates by 75 basis points to 3-3.25 percent. This is the third consecutive rise of 75 basis points. Federal Reserve Chairman Jerome Powell reiterated the Fed’s commitment to controlling inflation in his press conference.

“Given the broader dollar strength, the Reserve Bank of India may also revise its intervention activity. A range of 80.10-80.50 is likely to be seen on Thursday,” IFA Global Research Academy said.

“We have to get inflation down. I wish there was a painless way to do that,” Federal Reserve Chairman Jerome Powell said. “No”.

He added: “We want to be aggressive now and get this job done and get on with it until it’s done.”

The Bank of Japan (BoJ) and Bank of England (BoE) will focus on monetary policy, it said, with the BoE expected to increase rates by 50 basis points.

.

The Ultimate Managed Hosting Platform
RELATED ARTICLES
- Advertisment -

Most Popular