29 November 2022

Mumbai : The rupee depreciated further by 13 paise to hit a new lifetime closing low of 82.30 against the US dollar on Friday as a firm American currency risk-averse sentiment and 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.

low of 82.3 against $
low of 82.3 against $

At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.

On Thursday, the Indian currency for the first time closed below the 82 levels against the greenback. It plunged 55 paise to close at a record low of 82.17 against the US currency.

This week, the rupee depreciated 90 paise or 1.11 percent against the dollar due to rising crude oil prices and growing expectations of aggressive rate hikes by the US Fed.

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