The Indian rupee is expected to fall further to fresh record lows as dollar firmed up after the Federal Reserve announced its widely expected decision to lower interest rates by a quarter point but forecast fewer than previously estimated rate cuts next year. The dollar index climbed to around 108 on Thursday, holding onto gains after surging more than 1% in the previous session to reach its highest level since November 2022. Yesterday, the domestic currency dropped 3 paise to close at an all-time low of 84.94 against the US dollar. Indian shares ended notably lower on Wednesday, with a combination of persistent FII selling and uncertainty over the Fed's stance keeping investors nervous. The benchmark S&P/BSE Sensex fell 502.25 points, or 0.62 percent, to 80,182.20. The broader NSE Nifty index closed at 24,198.85, down 137.15 points, or 0.56 percent, from its previous close.

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