The Indian Rupee is strengthening against the US Dollar, trading at 82.75 against the US Dollar, having previously reached the 83 mark on October 19. This provides some relief from the Indian Rupee's continuous fall in value. The dollar is strengthening as central banks, including the US Federal Reserve, raise interest rates to combat multi-decadal inflation, resulting in a sharp inflow of funds into the world's largest economy. The rupee fell further after the dollar strengthened against all major currencies after inflation in the United Kingdom accelerated to a 40-year high in September as the rising cost of food squeezed household budgets.
#indianrupee #usdollar #indianeconomy
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