Rupee languishes at six-week low ahead of Fed outcome, RBI limits losses
The Indian rupee fell to its lowest level since late July, closing at 95.9550 per dollar amid strong dollar demand and expectations of a U.S. Federal Reserve rate hike. The Reserve Bank of India intervened to limit losses, keeping the rupee above 96 per dollar. Investors await the Fed's decision, with a 92.5% chance of a 25-basis-point increase today.