Rupee breaches 85/$ for 1st time on Fed's comment of fewer rate cuts in future

The Indian rupee fell to a record low against the US dollar, crossing the 85 mark for the first time. This drop was influenced by the US Federal Reserve's indication of fewer-than-expected future rate cuts. While the decline makes imports costlier and benefits NRI remittances, its impact on export competitiveness is debated.

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gcbYnaJ