The dollar index, which measures the value of the US greenback against a basket of other foreign currencies, gained 14 percent so far this year. This was primarily due to the aggressive rate hike decision of the US Federal Reserve and global investors moving assets to the perceived safety of the US amid geopolitical tensions.
Rupee hits record low of 87.35 vs USD on rate cut expectations
The Indian rupee weakened to a historic low of 87.35 against the U.S. dollar, influenced by expectations of an impending rate cut by the Reserve
February 5, 2025