Indian rupee hits 4-month low against US dollar
The Indian rupee just hit its lowest point in four months, closing at 86.8725 against the US dollar.
This drop was mainly triggered by a weaker euro and strong demand for dollars from Indian banks.
What a weaker rupee means for you
A weaker rupee means imported goods—from gadgets to fuel—could get pricier, which might push up everyday costs.
The dip also reflects worries over foreign investors pulling out, shaky company profits, and muted prospects of a U.S.-India trade deal.
Euro tumbles over 1% versus dollar
The euro tumbled over 1% versus the dollar, making the greenback stronger worldwide and putting extra pressure on currencies like ours.
All eyes are now on the US Federal Reserve's decision this week, which could shake things up even more.
Dollar-rupee swap rates rising
Dollar-rupee swap rates are rising as big IPOs bring in fresh money and RBI contracts come due—signs that demand for dollars is only growing right now.
Global economic moves and central bank policies are keeping everyone guessing about what's next for the rupee.