![]() The rupee on Wednesday touched record lows even as the Reserve Bank of India (RBI) sold dollars to limit losses. It appreciated by 0.89 percent against the USD and closed at Rs. The global oil benchmark, fell 0.46 per cent to USD 88.91 per barrel. In initial trade, the rupee touched 81.75 against the American currency. The rupee appreciated 35 paise to 81.58 against USD. "The Indian Rupee has been adversely affected mainly by the FIIs pulling out funds from the equity market, rising crude prices, the deteriorating trade balance and dollar strengthening," analysts at Emkay Wealth Management said in a note.įoreign institutional investors have sold local shares worth $28.4 billion so far in 2022 and dumped bonds worth $2.3 billion. The Pakistani Rupee (PKR) continued to grow against the US Dollar (USD) and posted big gains today. On Wednesday, the rupee plunged below the 82-mark for the first time in intraday trade before settling 40 paise down at 81.93 against the dollar. "The Indian rupee has continued to move on the downhill journey since the beginning of the year, amid a backdrop of heavy foreign fund outflows from the domestic markets, strength in the safe-haven dollar towards two-decade highs, and firming crude oil prices," said Sugandha Sachdeva, Vice President - Commodity and Currency Research, Religare Broking Ltd. On Monday, the Indian rupee touched a new record low against the U.S. On Wednesday, the rupee plunged below the 82-mark for the first time in intraday trade before settling 40 paise down at 81.93 against the dollar. It will be seen that Indian rupee depreciated against currencies of all. ![]() ![]() The backdrop of heated inflation, prolonged covid-19 lockdowns in China, the monetary tightening campaign of the key central banks, and supply chain disruptions caused by the Russia-Ukraine war have been clouding the outlook for global economic activity and have led to steep depreciation of the rupee against the dollar by over six per cent so far this year. But due to intervention of RBI by way of selling dollars in the foreign exchange. The rupee's fall has been mainly due to a rise in crude oil prices, a strong dollar overseas and persistent foreign capital outflows.
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