Like any other trade in life, the relative value of one currency against another depends on which is demanded more. If Indians demand more US dollar than Americans demand the Indian rupee, the exchang

The Indian rupee reached an unprecedented low, falling past the 85-mark against the US dollar for the first time in history. The currency depreciated by 12 paise, hitting an all-time low of 85.07 during morning trading. This drop is attributed to a hawkish stance from the US Federal Reserve, which triggered a widespread rally in the US dollar.

The Indian rupee has witnessed a sharp fall, hitting an all-time low of 84.94 against the US dollar on December 18. The fall is just six paise shy of the 85 mark, hinting at further decline. The currency opened slightly lower than its previous close at 84.92, down by two paise from 84.90.

The Indian rupee saw a modest recovery on December 20, appreciating by 6 paise to open at Rs 85.07 against the US dollar in early trade. This comes after it hit an all-time low of Rs 85.13 the previous day,