Indian rupee weakens to all-time low of Rs 85.08 against US dollar

KOCHI: Indian rupee plunged to an all-time low of Rs 85.08 against the dollar, mostly affected by the adverse global movements. The rupee fell another 14 paisa on Thursday as the US Federal Reserve's interest rate stance and outflow of local equities boosted dollar demand. Federal Reserve Chairman Jerome Powell's comments to cut off interest rates in the United States boosted the dollar's global strength.

On Thursday, the Federal Reserve cut interest rates by a quarter per cent. Foreign investment firms also sold Indian shares and withdrew money. In 2022, the value of the rupee against the dollar was 81.62.

Depreciation of the rupee against the dollar (Year - Rupee per dollar)

• 1947 - 3.3 Rs

• 1966 - 7.5 Rs

• 1975 - 8.39 Rs

• 1980 - 6.61 Rs

• 1990 - 17.01 Rs

• 2000 - 44.31 Rs

• 2010 - 46.02 Rs

• 2014 - 60.96 Rs

• 2020 - 74.31 Rs

• 2022 - 81.62 Rs

• 2024 - 85.08 Rs