November 21, 2023Akshit Tyagi

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