Page 4 - Rupee Value News Today

Foreign trips, fuel and everyday commodities will become more expensive because of the depreciation in the Indian rupee.

The rupee opened at 79.93 against the dollar on Friday, hitting an intraday low of 79.96, before recovering to close at 79.88.

The rupee rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets.

A decline in crude oil prices in the international markets, however, restricted the rupee losses, forex dealers said.

This is the fourth consecutive session that the currency’s value has dropped to new lows.

India’s June trade deficit widened to a record $25.63 billion, pushed by a rise in crude oil and coal imports, from $9.61 billion a year ago, adding to fears of further pressure on the rupee.

The domestic unit has lost 1.97% so far this month and has eroded a staggering 6.39% since the start of this year.

At the interbank foreign exchange market, the local currency opened at 78.26 and finally settled at its all-time low 78.32, unchanged from its previous close.

Rupee falls, rupee value, rupee vs dollar, rupee value today, rupee against dollar, rupee value against dollar

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.25 per cent lower at 102.24.