Muscat: The Indian rupee is likely to fall further after hitting a record low to the dollar on Thursday as the US Federal Reserve hinted at more aggressive rate hikes to tame inflation.
In the sultanate, one Omani riyal is fetched around 209.20 rupees, which is an all-time high, according to local money exchanges.
The rupee opened at a record low of 80.2850 per US dollar, down from 79.9750 in the previous session.
The US Federal Reserve raised by 75 basis points in line with expectations.
More importantly, it hinted that more hikes were coming and that rates would stay elevated until 2024.
Oman Observer is now on the WhatsApp channel. Click here
