Rupee Closes News Today

India Business News: The rupee closed at a new low of 83.4 against the dollar in Mumbai. Dealers stated that this was only a mathematical development and the currency has

The rupee appreciated by 5 paise to settle at 81.97 (provisional) against the US dollar on Monday, tracking a weak American currency in the overseas market.

The rupee appreciated 17 paise to 82.17 against the US dollar today as foreign capital inflows and a rally in domestic stocks bolstered investor sentiment.

The rupee declined by 25 paise to 82.62 (provisional) against the US dollar today amid a strong greenback against major currencies overseas and unabated foreign fund outflows.

The US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.35 per cent to 101.66 amid concerns over US economic growth.

During the trading session, the rupeet witnessed an intra-day high of 81.09 and a low of 81.28 against the American currency.

A series of weak economic data from the U.S. has fuelled expectations that the Fed may reduce the magnitude of rate hikes or even pause it. A lower reading in the housing data due later in the day could restrict the recovery in the dollar, analysts said.

The energy-sensitive rupee closed out the 2021-22 financial year with a loss of over 3.5 per cent, tracking a general surge in crude oil prices from the ongoing Russia-Ukraine war.

The Indian rupee closed a touch lower, pressured by surging oil prices, likely to widen the current account deficit and push inflation further up.