Indian rupee fell sharply today after the US Fed chief indicated high interest rates will continue for some time to curb inflation. The rupee fell to record low of 80.11 vs USD, compared with the previous session’s close of 79.87. On Friday, Federal Reserve Chair Jerome Powell at the Jackson Hole meet of central bankers signalled that restrictive policy would be kept longer to bring down inflation. Domestic equities also dived with Sensex falling over 1,200 points, tracking a global selloff.
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