2025-10-30 11:32:10 am | Source: Accord Fintech
Rupee weakens against US dollar on Thursday
The Indian rupee weakened against the US dollar on Thursday tracking weak domestic equities after the US Federal Chair Jerome Powell downplayed the possibility of an interest-rate cut in the next monetary policy as he said that the market’s prediction about a potential rate cut in December 2025 is not a ‘foregone conclusion’ and highlighted that the reality is ‘far from it’. Moreover, foreign fund outflows also dampened rupee sentiments. Foreign Institutional Investors sold equities worth Rs 2,540.16 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 88.50, weaker by 28 paise from its previous close of 88.22 on Wednesday. The currency touched a high and low of 88.51 and 88.3750 respectively.
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