Indian Rupee Weakens Against US Dollar as Fed Rate Cut Hopes Fade

Overview

The Indian Rupee opened lower against the US Dollar on November 20, trading at 88.6288 compared to 88.5875 at the previous close. This depreciation is attributed to a rising US Dollar Index, which climbed to 100.277. The increase in dollar strength is driven by recent minutes from the US Federal Reserve indicating a reluctance to cut interest rates in December, dampening expectations for monetary easing.