Federal Reserve hints 2026 hike, rupee falls 12 paise
Business
The rupee dropped by 12 paise to close at 95.74 against the US dollar on Wednesday, mostly because the dollar got stronger after US Federal Reserve officials hinted at a possible rate hike in 2026.
Still, a solid day for Indian stocks helped cushion the fall a bit.
Rupee supported by U.S.-Iran un talks
The rupee started at 95.58 and saw some ups and downs before ending lower. Traders pointed out that hopes for U.S.-Iran talks at the United Nations and slightly cheaper oil prices gave the rupee some support.
Meanwhile, Sensex rose 299.17 points, Nifty climbed too, but the dollar index also edged up, so it's been an eventful day across markets.