Mumbai: On Wednesday afternoon, the Indian rupee depreciated to 84.92 per US dollar, marking a significant decline as traders await indications regarding potential interest rate changes by the US Federal Reserve.
The rupee's performance against the dollar has raised concerns, particularly as it approaches a precarious threshold. Analysts suggest that the currency is under pressure from both domestic and global factors, contributing to its vulnerability in the current market.
Market participants are closely monitoring the Federal Reserve's upcoming decisions, which could impact the rupee's trajectory moving forward.