Rupee Slumps 51 Paise To All-time Low of 80.47 Against US Dollar
Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite.
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Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite.
The rupee rose 12 paise to close at 79.57 against the US dollar on Friday.
At the interbank foreign exchange, the rupee opened at 79.82 against the US dollar.
Rupee appreciated 30 paise to 79.39 against the US dollar in opening trade on Friday, buoyed by fresh foreign fund inflows into capital markets and a firm trend in the domestic equities.
Rupee, on Wednesday, for the first time settled below the 80-level against the US currency due to strong dollar demand from importers and fiscal slippage concerns.