Rupee Closes At 82.84 Per US Dollar On Fed Policy Bets

The Indian rupee declined against the dollar on Monday, as Asian currencies fell on the prospect of the U.S. Federal Reserve hiking interest rates further and for

The Indian rupee declined against the dollar on Monday, as Asian currencies fell on the prospect of the U.S. Federal Reserve hiking interest rates further and for longer.

The rupee finished at 82.8450 per dollar, against its previous close of 82.75.

The currency weakened up to 82.9475 during the session, its lowest level since Oct. 20, 2022 when the rupee hit a record low.

Further declines on Monday were capped by a likely Reserve Bank of India (RBI) intervention via state-run banks, traders said.