Rupee hits an all-time low of 83.36 against the US dollar

Following a downward trend in domestic equities, the rupee lost 2 paise and hit an all-time low of 83.36 against the US dollar in the morning session on Friday. The opening rate of the rupee versus the dollar at the interbank foreign exchange was 83.33. In the first trades, it fell 2 paise from its previous close, reaching a low of 83.36. The rupee’s value against US dollars ended the week at 83.34.

The Reserve Bank of India is positioned on one side of the market, while buyers of US dollars are on the other, and the rupee opened flat. Due to the Thursday Thanksgiving holiday, there won’t be any cash inflows, therefore trading will also be range-bound and at reduced volumes.

The dollar index, which measures the strength of the US dollar relative to a basket of six other currencies, was down 0.12% at 103.79 in the meantime. Benchmark Brent crude futures for the world market fell 0.06 percent to USD 81.37 per barrel.

Regarding the domestic equities market, the NSE Nifty slid 2.75 points, or 0.01 percent, to 19,799.25, while the BSE Sensex was down 40.84 points, or 0.06 percent, at 65,976.97. According to exchange data, foreign institutional investors bought shares worth Rs 255.53 crore on Thursday, making them net purchasers in the capital market.

Leave a Reply

Your email address will not be published. Required fields are marked *