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Rupee Plunges To All-Time Low Of 82.33 Against Dollar
A Reuters poll has said the rupee will trade near its record low beyond this year. The rupee plunged by 16 paise to close at an all-time low of 82.33 against the US currency in early trade on Thursday due to a surge in US bond yields, risk-averse sentiment among investors, and firm crude oil prices. On Thursday, the Indian currency for the first time closed below the 82 level against the greenback. It plunged 55 paise to close at a record low of 82.17 against the US currency. "An uptick in crude prices has caused concerns around the trade deficit to resurface. US rates staying higher for longer is not helping the capital account," IFA Global Research Academy said in a note. Source - NDTV #reuters #rupee #india #us #currency #ifa
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