Vikrant Shekhawat : Oct 07, 2022, 12:30 PM
Indian Currency: There is a continuous decline in the Indian currency. The rupee has depreciated continuously for the last few days. The rupee has now gone below Rs 82 against the US dollar and has touched its lowest level ever. The rupee fell 16 paise to an all-time low of 82.33 against the US dollar in early trade on Friday, October 7, 2022, due to the rise of the US currency and risk aversion by the traders.Rupee fell so muchIn the interbank foreign exchange market, the rupee opened at 82.19 against the dollar and fell further to 82.33. In this way the rupee fell by 16 paise against the previous closing price. The Indian currency closed below the level of 82 against the dollar for the first time on Thursday. In the last trading session, the rupee fell 55 paise to close at a record low of 82.17.Crude also brokenMeanwhile, the dollar index, reflecting the position of the US dollar against six major currencies, was down 0.14 per cent at 112.10. Global oil benchmark Brent crude futures fell 0.10 percent to $ 94.33 per barrel. At the same time, the falling rupee remains a matter of great concern.US dollar strengthensGaurang Somaiya, Forex and Bullion Analyst, Motilal Oswal Financial Services, said, “The rupee witnessed a fall due to the strengthening of the US dollar. In fact, better-than-expected data on services PMI and private jobs in the US strengthened the dollar.