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    Vikshita Vitthal Gujaran in News

    14-Nov-2022 10:10 AM


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    Rupee Falls 40 Paise To 81.21 As Fed Warning Boosts Bruised Dollar

    Rupee falls sharply to breach 81 against the dollar The rupee reversed gains from earlier in the session to fall sharply on Monday, as a warning from a Federal Reserve policymaker that it would take a string of soft inflation reports for the bank to move away from rate hikes buoyed the battered dollar.
    Bloomberg quoted the rupee last at 81.21 per dollar after opening at 80.5350, compared to 80.8100 it closed on Friday.
    "There are about 15 Fed speakers this week and any hawkish tone from them could change the downward direction of dollar," he added.
    A cooling inflation report on Thursday pushed the dollar down almost 4 per cent for the week, its fourth biggest drop since the era of free-floating exchange rates began over 50 years ago.
    That helped limit the dollar's sharp decline.

    Source - NDTV
    #rupee #dollar #money