Indian rupee falls to 95.25 per dollar amid Asian selloff
Business
The Indian rupee just slipped to its lowest point in nearly three weeks, closing at 95.25 against the US dollar, a 0.6% drop in a single day.
This slide wasn't just about India; most Asian currencies took a hit too, thanks to market jitters over what the US Federal Reserve chair might say and ongoing U.S.-Iran talks.
Experts see no quick rupee recovery
Even with cheaper oil and efforts to bring in more dollars, experts aren't expecting the rupee to bounce back soon.
High Reserve Bank of India dollar commitments and weak foreign investment are holding things back.
Everyone's watching for hints from the Federal Reserve chair later today: any clue on interest rates could shake things up further, especially since inflation worries are keeping the dollar strong.