Similar trends were witnessed in Nifty, which declined 66.30 points or 0.37 per cent and managed to end the day at 18,003.75 points. With the higher than expected inflation reported in the US in August, there are now concerns that the US Federal Reserve is likely to go for aggressive rate hikes, pushing global markets into the red.
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