Page 5 - Rupee Value News Today

On the interbank foreign exchange market, the rupee on Wednesday opened higher at 77.58 against the US dollar, a gain of 13 paise.

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Higher inflation, depressed risk assets performance and foreign fund outflows have been weighing on the Rupee.

Rupee gradually recovered after touching a record low of 77.79 against the dollar. BSE Sensex closed 2.54 per cent or 1,344.63 points higher at 54,318.47.

The rupee rebounded sharply after hitting a record low against the US dollar for a second time this week.

Persistent foreign fund outflows and elevated crude oil prices impacted the Indian rupee, forex traders said.

The rupee rose against the US dollar in early morning trade on Wednesday after hitting a record low on Monday.

‘Focus on managing economy, not media headlines’: Rahul Gandhi to PM Modi as Indian rupee plummets - As the rate of the Indian rupee has taken a significant fall, Congress leader Rahul Gandhi slammed PM Modi for “managing media headlines.”

Rupee to Dollar: Forex traders and market trackers said risk appetite has weakened amid rising bond yields in the US and mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks.

With the rupee hitting an all-time low, imports, foreign education, and travel could all get expensive. Here’s why.