Indian Currency Indian Rupee opens at record low 81.08 against US$
Mumbai: The Rupee on Friday was at record low in early trade breaching 81-level at 81.08, sliding 22 paise against the US dollar for the first time on the back of surge in US treasury yields.
Even, 10-year bond yield surged 6 basis points to hit over two-month high.
On Thursday, the rupee had suffered its biggest single session to close at 80.86, dropping 89 paise due to hawkish US Federal Reserve rate outlook, traders said.
The scenario has changed as globally the volatility into the forex market post the Fed meeting has peaked to the highest.
The domestic currency was trading at 81.15 a dollar, down 0.33 per cent from its previous close of 80.87.
Out of eight sessions, this was the seventh session of tumbling down of the Indian currency.
So far this year, it fell around 8.48 per cent.
Immediately it was not clear whether the RBI would intervene in the currency markets.
Sliding equity market since last three sessions too impacted on the Indian currency.
The Rupee recorded intra-day high and low at 80.90 and 81.15 respectively on Friday so far.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
