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Rupee hits new low of 84.88 against USD
The New Indian Express Nagapattinam
|December 13, 2024
INR likely to trade near 84.5 against USD by Dec-end
THE rupee fell to a new low of Rs 84.88 during intra-day trade on Thursday against the US Dollar. Pressured by increase in crude oil prices and a lingering depreciation bias, it depreciated by 4 paise, and settled at ₹84.87 per dollar compared to ₹84.83 on Wednesday.
Analysts pointed out that the rupee continues to hover in a weak range. Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said the recent US CPI data came in line with expectations, signalling potential continuity in the Federal Reserve's rate-cut trajectory.
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