Rupee Falls 29 Paise to Close at 95.22 Against U.S. Dollar
4 Articles
4 Articles
Rupee slips below to 95.18 against dollar on elevated oil prices
On Monday, the Indian rupee dropped to 95.18 against the dollar amid rising oil prices. Importer demand for dollars continued, despite increased hedging costs observed in the market. The Reserve Bank of India has implemented measures to stabilize the rupee but is less active in intervention. Without foreign inflows, the rupee faces challenges as oil prices remain elevated. Expected trading for the rupee is between 95 and 95.
Rupee falls 29 paise to close at 95.22 against U.S. dollar
At the interbank foreign exchange market, the rupee opened at 94.92 against the dollar, then lost ground to touch an intra-day low of 95.26 and finally settled for the day at 95.22 (provisional), registering a decline of 29 paise over its previous close
Indian Rupee Fall: The Indian rupee's weakness against the US dollar has once again raised concerns on the economic front. During trading on October 27th, the rupee was seen at 95.22 per dollar. Continued selling by foreign investors and high crude oil prices in the international market have increased pressure on the rupee. Now the question here is: if the rupee's decline continues, how much will it affect the common man's pocket? Will petrol an…
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