Dollar vs Rupee: Rupee reached lowest level against dollar, crossed 81 level for the first time

Today english news:

Dollar vs Rupee: On Friday, September 23, the rupee opened at its lowest level against the dollar. Rupee has crossed the level of 81 per dollar for the first time. According to Bloomberg, on Thursday, the rupee closed at a level of 80.86 against the dollar. The fall in the rupee on Thursday was the biggest fall since February 24. According to experts, the rupee can go up to the level of 81 or 81.50 against the dollar.

Finance Minister Nirmala Sitharaman said on Thursday that the government exchange rate (Exchange Rate) and keeping an eye on inflation and taking appropriate steps.

US Dollar Index (US Dollar Index) 111 and the two-year US bond yield is above a multi-year high of 4.1 percent. Due to these reasons, the rupee fell to a record low of 81.23 against the dollar for the first time on Friday.

According to a report in PTI, forex traders said that the 75 basis points hike in interest rates by the US Federal Reserve and increased geopolitical risk in Ukraine also impacted risk appetite. . This is the reason why the US currency has strengthened in foreign markets. The steady trend of the domestic equity market, reduced risk appetite of investors and the rise in crude oil prices have affected the rupee.

PTI quoted Dilip Parmar, Research Analyst, HDFC Securities, as saying that the current trend of depreciating rupee may continue for some time despite strengthening of domestic fundamentals. However, the performance of rupee will be better in comparison to the currency of other countries.

, Dollar vs Rupee: Rupee reached lowest level against dollar, crossed 81 level for the first time
, , 2022-09-23 09:51:20

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