Saturday, December 3, 2022
Home Business Rupee Falls 6 Paise to All-Time Low of 83.06 Against US Dollar...

Rupee Falls 6 Paise to All-Time Low of 83.06 Against US Dollar in Early Trade

Last Updated: October 20, 2022, 12:34 IST

The rupee depreciated 6 paise to a record low of 83.06 against the US dollar in opening trade on Thursday

The rupee depreciated 6 paise to a record low of 83.06 against the US dollar in opening trade on Thursday

The rupee depreciated 6 paise to a record low of 83.06 against the US dollar in opening trade on Thursday due to a stronger greenback overseas and unrelenting foreign fund outflows. Besides, a sell-off in domestic equities and risk-averse sentiments weighed on the local unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened weak at 83.05 against the dollar, then slipped further to quote 83.06, a fall of 6 paise over its previous close. The local currency also hit a high of 83.07 in early deals.

In the previous session on Wednesday, the rupee plunged 60 paise to end at 83 against the dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.07 per cent to 113.06.

Brent crude futures, the global oil benchmark, slipped 0.17 per cent to USD 92.25 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 140.09 points or 0.24 per cent lower at 58,967.10. Similarly, the broader NSE Nifty fell 43.95 points or 0.25 per cent to 17,468.30.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 453.91 crore on Wednesday, according to exchange data.

Read all the Latest Business News and Breaking News here

Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular