Rupee hits over 10-week low, slumps 35 paise against USD
Mumbai: The Indian rupee on Wednesday plunged by 35 paise to close at its weakest level in over 10 weeks at 74.76 against the US dollar as investors appeared cautious looking for clarity on the US election outcome and the latest tranche of fiscal stimulus.
At the interbank forex market, the rupee opened at 74.74 against the greenback and witnessed an intra-day high of 74.57 and a low of 74.90. It finally settled at 74.76 -- its lowest level since August 21 this year.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.35 percent to 93.88.
"The rupee will continue to be in focus till clarity emerges on the US election outcome and the latest tranche of fiscal stimulus. In times of uncertainty, investors tend to rush towards the USD which is a safe haven," Nish Bhatt, Founder & CEO, Millwood Kane International, said.
Brent crude futures, the global oil benchmark, rose 0.38 percent to USD 39.86 per barrel.
On the domestic equity market front, BSE benchmark Sensex ended 355.01 points or 0.88 percent higher at 40,616.14; and the broader NSE Nifty climbed 95 points or 0.80 percent to 11,908.50.
"The big risk to the currency market is the uncertainty over the new US President and the inconclusive election result. The Democrats are leading but Republicans are catching up. In such a scenario, traders are preferring to go against the rupee," said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.
The closely-fought US presidential election appeared to be headed into an uncertain phase with Republican incumbent Donald Trump and his Democratic challenger Joe Biden fighting it out in the key battleground states.
"The rupee depreciated against the greenback as investors continued to have faith in the dollar over US election outcome concerns," said Sriram Iyer, Senior Research Analyst at Reliance Securities.
Iyer further said that investors will be also looking to the US Federal Reserve and Bank of England monetary policies, due on Thursday.
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RCB calmer than last year, players clear about their roles: Krunal Pandya
Bengaluru (PTI): The atmosphere in the Royal Challengers Bengaluru camp is much calmer than last year and players have a lot more understanding of their roles this season, says Krunal Pandya.
RCB won the Indian Premier League trophy for the first time in 18 years in 2025 and Pandya was the Man-of-the-Match in the final against Punjab Kings at Ahmedabad, returning 4-0-17-2 as RCB won the contest by six runs.
"I feel that this year there is a much calmer atmosphere. Last year it was a new team, and everyone got to know each other. This year many players understand their roles and each other's strengths and weaknesses," Pandya said in a release by the franchise.
"When I get into the big occasions, I feel that if God has got you here, then there is a reason behind it and sometimes I think that these big occasions are actually made for me. I feel the pressure, but I think about how I can be calm and in the present moment and do what is required," he said.
Pandya said RCB icon Virat Kohli would easily rank among the greatest players in any era of cricket.
"Virat is a classic example. You can see that hunger; you can see that passion in how he sees the game and how much he wants that victory. If Virat Kohli had been born in any (some other) generation, he would still be one of the greats. He is not competing with anyone else," he said.
