Summary: On Wednesday, the rupee deteriorated by 20 paise, hitting a record low of 96 90 against the US buck in very early trading, affected by a stronger buck, high petroleum prices, and proceeding Iran-US tensions.
Bottom line
- The rupee opened up at 96 89 at the interbank fx market and afterwards decreased to a record low of 96 90 against the United States dollar.
- The BSE Sensex dropped by 517 11 indicate 74, 667 51, while the NSE Nifty lowered by 152 45 points to 23, 475 80 in early trading.
- The dollar index was partially up by 0. 01 per cent at 99 262
- Brent crude relieved 0. 35 percent to USD 110 59 per barrel in futures trade.
- International Institutional Financiers (FIIs) were internet sellers, unloading equities worth Rs 2, 457 49 crore on Tuesday.
What This Implies
The rupee’s loss can affect import expenses, possibly bring about rising cost of living. Proceeded surveillance of international fund moves and worldwide petroleum rates is crucial for comprehending the rupee’s future trajectory.
Resource: indianexpress.com