2025-08-25 11:27:52 am | Source: Accord Fintech
Rupee strengthens against US dollar on Monday
The Indian rupee strengthened against the US dollar on Monday, supported by firm domestic equities following upbeat global market cues on rising hopes of an interest rate cut by the US Federal Reserve. The Fed Chairman Jerome Powell in a closely watched speech at the Fed's annual Jackson Hole symposium on Friday suggested a rate cut at the Fed’s September 16-17 meeting. Although, some gains were limited by investors’ caution on the implementation of the August 27 tariff.
The partially convertible currency is currently trading at 87.44, stronger by 8 paise from its previous close of 87.52 on Friday. The currency touched a high and low of 87.47 and 87.34 respectively
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