NEW DELHI (Pakistan Point News / Sputnik - 23rd September, 2022) The Indian rupee on Friday continued to lose its value against the US dollar, nosediving to 81.18 rupee per Dollar in early trade, according to trading data.
The BSE Sensex domestic stock market index fell by 591.68 points or 1%, to 58,528.04 points, while the broader NSE Nifty dropped by 175.30 points, or 0.99%, to 17,454.50 points.
On Thursday, the rupee fell to 80.38 against the dollar, recording a drop of 42 paise compared to the last close, the trading data showed.
The rupee fell after the US Federal Reserve on Wednesday raised its key interest rate by 75 basis points to a record 3.25%, maximum since 2008. The US could go for a further 125 basis point rate hike by the end of the year, according to Federal Reserve Chairman Jerome Powell.
BSE Sensex, also known as the S&P Bombay Stock Exchange Sensitive Index, consists of 30 largest and most actively traded stocks. Sensex is the oldest stock market index in India, founded in 1986.
The NSE NIFTY 50 index is a key index of the Indian Stock Exchange. It represents the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange.
