On January 09, 2025, the Indian rupee traded at 85.92 to the U.S. dollar, surpassing its previous record low of 85.86 hit earlier this week. As per news reports, further losses in the rupee were capped amid dollar sales by state-run banks.
The dollar index reached 109, rising 0.3% today, while Asian currencies showed mixed performance. The 10-year U.S. Treasury yield climbed to 4.73% on Wednesday, its highest since April 2024, before slightly declining during Asian trading.
The dollar and U.S. bond yields have risen in recent weeks due to expectations of cautious rate cuts by the Federal Reserve and the potential inflationary effects of incoming U.S. President Donald Trump’s policies.
The release of the Fed’s December meeting minutes on Wednesday highlighted growing concerns about inflation, with uncertainty surrounding Trump’s policies adding to the economic outlook’s volatility.
Investors are keeping a close eye on important events ahead, such as the U.S. December jobs report on January 12, inflation data on January 15, and President-elect Donald Trump’s inauguration on January 20.
Brent crude oil futures are 0.11% down, at $76.08 per barrel as of January 9, 2025. Oil prices fell for the second consecutive day on Thursday following significant increases in fuel inventories in the U.S., the world’s largest oil consumer.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 9, 2025, 10:35 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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