Thursday, August 18, 2022

Rupee closes at 79.92 vs dollar

The rupee recovered from its all-time low of 80.05 to close 6 paise higher at 79.92 against the US dollar on Tuesday following forex inflows and suspected RBI intervention.
A positive trend in domestic equities and losses in the US dollar in overseas markets also boosted the local unit while a rise in crude oil prices restricted gains.
At the interbank forex market, the local unit opened lower at 80.00 against the greenback and fell further to its all-time low of 80.05 to a dollar due to overnight gains in crude oil prices.
Firm stock markets, foreign fund inflows into equities for a second straight day and suspected RBI intervention helped the rupee pare losses later.
The local unit settled at 79.92, registering a rise of 6 paise over its previous close.


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