Rupee at All-Time Low: This is the first time in history that the rupee has depreciated against the dollar. That is, now the rupee has reached below Rs 78 against the dollar.
According to the news, the rupee has fallen by 36 paise to its lowest level at 78.29 against the US dollar. On this subject, forex traders said that weak Asian currencies, fall in domestic stock market and frequent outflow of foreign capital also affected investor sentiments.
In the interbank foreign exchange market, the rupee opened at 78.20 against the US dollar, and then lost ground to 78.29, showing a decline of 36 paise over the previous closing price.
It is worth noting that on Friday, the rupee had declined by 19 paise to 77.93 against the US currency in the foreign exchange market to close at 77.93 per dollar. This was considered the lowest level of Rs. But on Monday the situation got worse. This fall has been attributed to the rise in crude oil prices and continuous outflow of capital from the market by foreign institutional investors.
According to the report, heavy selling in the stock market and strengthening of the dollar abroad also affected the sentiment of the rupee. On Friday, the rupee opened at 77.81 against the dollar in the interbank foreign exchange market. In the day’s trading, it went up to a high of 77.79 and a low of 77.93. At the same time, at the end of trading, the rupee had declined by 19 paise to 77.93 per dollar against its previous closing price of Rs 77.74.
Let us tell you that, Dilip Parmar, Research Analyst, HDFC Securities had said about the fall in the rupee, “Indian rupee fell to record low amid risk aversion, weak macroeconomic data and strong dollar index. “