The Indian rupee opened sharply lower against the U.S. dollar on Thursday amid uncertainty in global markets.
Sentiment also faded as the political uncertainty in India following Mamata Banerjee's decision to pull out of the Congress-led United Progressive Alliance Government in Delhi may hinder the government's reform agenda.
The rupee declined to 54.4175 per dollar, its lowest level since September 14. The next support level for the rupee is seen at 55.00.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.