The rupee is at an all-time low of 82.33 against the dollar


New Delhi: : The rupee has once again fallen to a record low against the US dollar. The rupee fell last week against the US dollar and is currently close to 82.

The rupee (rupee vs dollar) continues to weaken against the dollar. The rupee broke its previous high and set a new high. Currently, the rupee has weakened by 8.9 percent against the US dollar.

The rupee depreciated by 16 paise to an all-time low of 82.33 against the US dollar in early trade on Friday, as a firm American currency and investor risk appetite weighed on the local unit. In addition, the negative performance of domestic stocks and increased crude oil prices reduced investors’ appetite, currency traders said.

Traders are also eyeing the US payrolls report, which is expected today. Depending on this, the US central bank’s monetary policy can also be influenced. The rupee had closed at 81.88 during the previous session.

Treasury yields are expected to open higher on Monday as concerns about debt supply may resurface after weaker-than-expected demand at Friday’s debt auction. Bond prices and yields are inversely related.

The dollar index, which tracks the greenback against the six major baskets, was little changed at 112.032 after hitting a two-week low.
The price of oil rose as a result of the “deep” supply cut by the oil association

Exporting countries (Opec) and its allies, and are expected to increase volatility. Crude oil prices are headed for their biggest weekly gain since Russia’s invasion of Ukraine this year.

A weak rupee has prompted the Reserve Bank of India to sell the dollar to support the currency. But this has raised concerns about India’s dwindling foreign exchange reserves.
Last week, the RBI also raised its repo rate last week to curb the weakening of the local currency against the dollar.

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