5 December 2022

Mumbai : The rupee plunged by 55 paise to close at an all time low of 82.17 against the US currency on Thursday due to a stronger dollar in overseas markets and firm crude oil prices . The Indian currency for the first time closed below the 82 level against the US greenback as heavy dollar demand from oil importers and growing expectations of a Fed rate hike weighed on the local unit .

 Below 82 Mark For 1st Time
Below 82 Mark For 1st Time

At the interbank foreign exchange market , the local currency opened on a positive note at 81.52 , but pared all the gains later as the dollar extended gains . During the day , the local unit witnessed anintra day high of 81.51 and a low of 82.17 against the greenback . The rupee finally settled at the day’s lowest level of 82.17 , showing a loss of 55 paise over the previous close .

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