“1 USD = 85.06 INR”; Indian Rupee Sees Historic Fall against US Dollar

In an all-time low, the INR (Indian National Rupee) has further dropped 12 paise and plummets to 85.06 against the US dollar in early trade on December 19, 2024. An aggressive tilt from the US Federal Reserve sparked a broad dollar rally.

As a warning, the Forex traders said that the US Federal Reserve has adjusted its projections for 2025, which may bring more cautious monetary policy stance. This can pressurize emerging market currencies, including the Indian rupee.

Rupee opened with a weak note at the interbank foreign exchange and breached the crucial 85.00 level against the greenback. It then fell further to an all-time low of 85.06 against the American currency.

On Wednesday (December 18, 2024) the rupee dropped 3 paise to close at an all-time low of 84.94 against the US dollar.