Indian Rupee (INR) weakens on Tuesday on US Dollar (USD) purchases by state-run banks.
Indian Rupee loses traction on Tuesday amid a stronger USD. Fed is expected to hold rates steady in the range of 5.25%–5.50% at its March meeting. The US Fed interest rate decision on Wednesday will be the highlight of this week. Indian Rupee weakens on Tuesday on US Dollar purchases by state-run banks. The lower speculation that the US Federal Reserve may cut interest rates in June provides some support to the Greenback and lifts the USD/INR pair.
Any follow-through selling could extend the pair’s downtrend to 82.45 , en route to 82.25 . US Dollar price today The table below shows the percentage change of US Dollar against listed major currencies today. US Dollar was the weakest against the Australian Dollar. USD EUR GBP CAD AUD JPY NZD CHF USD -0.01% 0.01% 0.03% -0.02% 0.08% 0.07% 0.08% EUR 0.00% 0.01% 0.02% -0.02% 0.10% 0.07% 0.09% GBP -0.01% -0.02% 0.02% -0.03% 0.07% 0.05% 0.07% CAD -0.03% -0.03% 0.00% -0.05% 0.07% 0.04% 0.06% AUD 0.