Rupee Falls to New Low as Dollar Strengthens

The Indian rupee fell to a new low on Wednesday, closing at 95.74 against the US dollar after a 12 paise decline.

This dip was attributed to the broad strength of the American currency and a slight recovery in crude oil prices from lower levels.

Forex traders pointed out that the dollar strengthened due to hawkish comments from US Federal Reserve officials, raising expectations of a rate hike by the US Fed in 2026.

Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, expected the rupee to trade with a positive bias, citing hopes of a diplomatic solution between the US and Iran amid indirect talks at the UNGA, which may improve global risk sentiment.