Rupee Price: There is a continuous decline in the Indian currency. 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 much
In 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. The rupee fell 55 paise to close at a record low of 82.17 in the last trading session.
Crude also broken
Meanwhile, 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 strengthens
Gaurang Somaiya, Forex and Bullion Analyst, Motilal Oswal Financial Services, said, “The rupee saw 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 supported the dollar.