Diabytes
Rupee Vs USD News
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At the interbank foreign exchange, the domestic unit opened at 82.36 against the dollar, then climbed to 82.31, registering a rise of 9 paise over its previous close.
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At the interbank foreign exchange, the domestic unit opened at 81.45 against the dollar, then touched 81.30, registering a gain of 37 paise over its previous close.
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Moreover, escalation of geopolitical risks due to conflict in Ukraine, a negative trend in domestic equities and significant foreign fund outflows sapped the investor appetite, forex traders said.
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Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite.
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52% expect goods and services to cost more
44% are concerned about higher overseas travel costs
24% fear impact on overseas education plans for children/ grandchildren
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Persistent foreign capital outflows, elevated global crude oil prices and risk-averse sentiments also impacted the domestic unit, forex traders said.
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At the interbank foreign exchange, the rupee opened at 77.74 against the American dollar, then fell further and touched its intra-day record low of 77.81, registering a fall of 13 paise from the last close.
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However, unabated foreign fund outflows and surging crude prices in the international markets restricted the rupee's gain, forex dealers said.
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On a weekly basis, however, the domestic currency logged 78 paise gains.
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At the interbank foreign exchange market, the rupee opened higher at 69 a dollar against 69.05 previously.
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On Friday, the rupee had gained 33 paise to 68.46 against the US dollar, in line with a big relief rally in domestic equities.
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The pound sterling also finished higher at Rs 91.98/92.00 at the Interbank Foreign Exchange market.
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Dealers attributed the rupee's fall to increased demand for the US currency from importers.
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The Indian unit hovered between 66.78 and 67.08 during morning deals.
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This is the highest closing for the home currency since September 13, when it had closed at 64.
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Yesterday, the rupee ended at a fresh two-month high of 64.31 against the US dollar.
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The rupee has appreciated by a whopping 39 paise in the last three days.
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Weakness in the US dollar against some currencies in the global market limited the rupee fall.
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On Friday, the rupee had lost 12 paise to close lower at 64.70 a dollar due to renewed demand for the US currency.
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The rupee rebounded by 22 paise to close at a two-week high of 64.89 against the US dollar.
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