Rupee hits a 1-month low, forward premiums drop
Wed, Feb 22, 2023 11:30 AM

Rupee hits a 1-month low, forward premiums drop

A Flip by Shubhangi Gupta
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The Indian rupee fell to a one-month low on Wednesday, tracking its Asian peers, while forward premiums fell on concerns about the Federal Reserve's interest rate hike trajectory in the United States. The rupee finished at 82.8025 per dollar, up from 82.7550 at the previous close. It weakened to 82.8975, its lowest level since January 4. Traders believe 82.90-83 is a difficult level to break.

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