Rupee hits another record low after breaching the 82 mark against US dollar

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.19 per cent to 112.04.

PTIUpdated: Friday, October 07, 2022, 08:24 PM IST
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The rupee had been hovering close to 82 for a while. | Photo: Pixabay

The rupee depreciated 15 paise to close at an all-time low of 82.32 (provisional) against the US dollar 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 market, the local currency opened at 82.19, then fell further to 82.43 and finally settled for the day at an all-time low of 82.32 against the American currency, registering a decline of 15 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.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.19 per cent to 112.04.

Global oil benchmark Brent crude futures surged 0.82 per cent to USD 95.19 per barrel after oil cartel OPEC decided to cut production in view of weakening global demand.

On the domestic equity market front, the 30-share BSE Sensex dropped 30.81 points or 0.05 per cent to end at 58,191.29, while the broader NSE Nifty fell 17.15 points or 0.1 per cent to 17,314.65.

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.

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