Business
Indian Currency Weakens Further in Forex Trade
The Indian rupee weakened further in the foreign exchange market on Thursday, slipping by six paise to close at an all-time low of 95.76 against the US dollar. The decline came amid continued strength in the US currency and cautious global market sentiment.
The Indian rupee on Thursday depreciated by six paise to settle at a record low of 95.76 against the US dollar in the foreign exchange market.
Market analysts attributed the decline to sustained demand for the US dollar, global economic uncertainty, and pressure from international currency movements. The weakening of the rupee reflects cautious investor sentiment amid fluctuating global financial conditions.
Meanwhile, the dollar index — which measures the strength of the US dollar against a basket of six major global currencies — was trading at 98.56 during intra-day trade, indicating continued resilience of the American currency in global markets.
Currency market experts noted that factors such as crude oil prices, foreign fund movements, US economic indicators, and monetary policy expectations continue to influence the rupee’s performance against the dollar.
A weaker rupee can increase import costs, particularly for commodities such as crude oil, while also impacting inflation and trade balances. However, it may provide some support to export-oriented sectors by making Indian goods more competitive in international markets.
Investors and traders are expected to closely monitor upcoming economic data, central bank policy signals, and global geopolitical developments for further direction in the currency markets.
