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Indian rupee hits new record low on fears of Federal Reserve tightening

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Published Mon, Jun 13, 2022 · 01:22 PM
    • The Indian rupee slipped to 78.2838 against the US dollar on Monday.
    • The Indian rupee slipped to 78.2838 against the US dollar on Monday. PHOTO: AFP

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    THE Indian rupee plunged to a new record low against the dollar on Monday, ahead of an expected hiking of US interest rates as inflation risks grow. The rupee slipped to 78.2838 against the US dollar on Monday after a series of slides. India’s central bank has been selling off foreign currency to stabilise the rupee. AFP

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