Rupee falls to record low

Rupee fell to its record closing low on Tuesday as persistent local demand for the US Dollar weighed on the unit despite a rally in Asian currencies.

Source: Unsplash

The Rupee ended at 83.35 against the US dollar, slightly weaker than its close at 83.34 in the previous session.

Source: Unsplash

The Rupee is expected to remain in a lacklustre range in the near-term but December could spark some volatility due to year-end dollar demand, according to a research analyst.

Source: Republic

Investors now await the minutes of the Fed's October meeting, due later on Tuesday, which could offer guidance on how well-placed market expectations are on the future of US policy rates.

Source: Republic