Live tv
search
  1. You Are At:
  2. English News
  3. India
  4. Rupee falls 16 paise to all-time low of 82.33 against US dollar in early trade

Rupee falls 16 paise to all-time low of 82.33 against US dollar in early trade

The fall of Rupee: Indian currency Rupee (INR) loses 16 paise to all-time low of 82.33 against USD in early trade on Friday. A firm American currency and risk-averse sentiment among investors hurt the INR.

PTI Reported By: PTI Mumbai Published on: October 07, 2022 10:10 IST
Rupee sees record fall on Friday.
Image Source : REPRESENTATIVE PIC Rupee sees record fall on Friday.

The rupee depreciated 16 paise to an all-time low of 82.33 against the US dollar in early trade on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.

Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said.

At the interbank foreign exchange, the rupee opened at 82. 19 against the greenback, then fell to 82. 33, registering a fall of 16 paise over its previous close.

On Thursday, the Indian currency for the first time closed below the 82 level against the greenback. 

It plunged 55 paise to close at a record low of 82. 17 against the US currency.

"An uptick in crude prices has caused concerns around the trade deficit to resurface. US rates staying higher for longer is not helping the capital account," IFA Global Research Academy said in a note.

Moreover, the Reserve Bank of India (RBI) seems to have become conservative in spending reserves, it said, adding that these factors are causing the rupee to adjust.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.14 per cent down at 112.10.

Global oil benchmark Brent crude futures fell 0.10 per cent to USD 94.33 per barrel.

On the domestic equity market front, the 30-share BSE Sensex was trading 111.83 points or 0.19 per cent lower at 58,110.27, while the broader NSE Nifty fell 38.00 points or 0.22 per cent to 17,293.80.

Foreign institutional investors were net buyers in the capital market on Thursday as they purchased shares worth Rs 279.01 crore, as per exchange data.

Also Read: India's service sector activity falls to 6-month low in September amid inflationary pressures: PMI 

 

Latest India News

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from India