Rupee hits three-week low as firmer dollar, NDF maturities pinch

Rupee closes at 94.96 vs USD, logs best day in three weeks on NDF dollar sales, bailing shorts

Indian rupee closed at 94.97/USD (+0.4%), best day in 3 weeks, driven by NDF dollar selling and short position exits. Market repricing Fed hikes to 29bps by December (down from 38bps)—lower expected US rates reshape global carry dynamics and impact tech sector funding/M&A multiples in high-yielding markets.