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  • The Indian rupee plunged 90 paise to close at an all-time low of 80.86 (provisional) against the US dollar on Thursday after the US Federal Reserves interest rate hike and its hawkish stance weighed on investor sentiments. The strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee. Meanwhile, the dollar index that measures the greenback against a basket of currencies is up 0.50% to 110.88, off its recent peak of 111.47, its highest level since June 2002, while 10-year U.S. Treasury yields surged to a 11-year high.

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