The rupee on Wednesday dipped below the level of 82 against the dollar for the first time and finally closed at an all-time low of 81.93, down 40 paise. The rupee depreciated on the back of a firming US currency in overseas markets and investors refrained from investing in riskier markets.
The continued fall in the domestic equity market and continued capital outflows by foreign investors also added to the pressure on the domestic currency. The rupee opened at 81.90 in the interbank foreign exchange market. On Tuesday, it had gained 14 paise to close at 81.53 against the dollar.
Sugandha Sachdeva, Vice-President (Commodity & Currency Research), Religare Broking Limited said that the current phase of selling in the rupee is going on due to limited intervention by RBI amid a fall in forex reserves.
Meanwhile, the dollar index, which measures the strength of the dollar against the world\'s six major currencies, climbed 0.43% to 114.59. Experts say that now everyone\'s focus is on the meeting of the monetary policy committee of RBI. In this meeting, the decision on policy rates will come on Friday.
Dollar is stronger this year by 19.50%
Sachdeva said the rupee further fell to new lows amid risk aversion sentiment in the markets. A breakdown in domestic equity markets and the dollar index approaching a crucial 20-year high of 115 also weighed on the local currency. Most Asian currencies have fallen this year on fears of a global slowdown, while the US dollar has gained 19.50 percent.
Gold cheaper by Rs 435, silver down by Rs 1,600
Gold prices fell by Rs 435 to Rs 49,282 per 10 grams in the Delhi bullion market on Wednesday due to the softening of precious metals in the global market. Silver also became cheaper by Rs 1,600 to Rs 54,765 per kg. In the previous session, gold had closed at Rs 49,717 per 10 grams. In the international market, gold was trading softly at $ 1,615.7 an ounce, which is the lowest level since April 2020.
Stock markets fall for the sixth consecutive day, below 57,000
The domestic stock markets also declined for the sixth day on Wednesday. Weakness in global markets and frequent capital outflows kept the market down. The Sense fell 509.24 points to 56,598.28 and the Nifty lost 148.80 points to end at 16,858.60. Investors\' capital declined by 1.73 lakh crore to 268.42 lakh crore. Shares of 18 companies out of 30 Sense closed in the red mark. Foreign institutional investors sold shares worth Rs 3,039.94 crore on Wednesday.
'Who Kangana?', Annu Kapoor reacted to Kangana Ranaut's slapping incident, and people were surprised to hear the answer
Bollywood actor Annu Kapoor is in the headlines these days for his film 'Hamare Baarah'. There has been a controversy about this film for a long time. However, now it has got a clean chit from the
International Nurses Day 2023: Why celebrate International Nurses Day on 12 May? Know History and Theme
International Nurses Day 2023: During the Corona period, when people all over the world were suffering due to the virus, the role of nurses along with doctors became very important. During the Kovid
IIT Guwahati: 20-year-old student commits suicide at IIT Guwahati, police investigation underway
IIT Guwahati Student Suicide: Bad news has come out from the Indian Institute of Technology Guwahati. A student hailing from Andhra Pradesh committed suicide here on Sunday. According to the
World Cup 2023: Shakib Al Hasan made a big revelation after the shameful defeat of BAN, said - these three teams are contenders for the title
Bangladesh captain Shakib Al Hasan said that currently, three teams seem to be the strong contenders to win the World Cup 2023 title. Bangladesh suffered a humiliating 149-run defeat at the hands of
Shubman Gill: Rahul Dravid giving false consolation? Claim in the report – It is difficult for Gill to play against Australia
The concerns of the Indian team have increased before the opening match of the World Cup against Australia. In form, Shubman Gill is not well. It is feared that he is suffering from dengue. Due to
Russian army will soon have to evacuate Kherson city of Ukraine, General Sergei Surovikin told this big reason
The Russian army is now facing difficulties in Ukraine. This is not the claim of any media report, it is the statement of the new commander of the Russian army himself. He said that the governor
Yogi Adityanath: 'Whoever understands in whatever language, should be explained in that language', CM Yogi Adityanath gave a big statement on bulldozer action
Uttar Pradesh Chief Minister Yogi Adityanath, while reacting to the criticism of his government's bulldozer action, said that sometimes people need to be explained things in the language they
Priyanka Chopra: It was not easy for Priyanka to earn a name in Hollywood, she had to face these challenges
Priyanka Chopra is a veteran actress in Hindi cinema. He has worked in many best films in Bollywood. Priyanka has waved her success from Bollywood to Hollywood. Leaving a small district of UP, first
Sanatan Dharma: 'Slap Udhayanidhi Stalin, get a reward of 10 lakhs', an NGO in Vijayawada announced by putting up a poster
Sanatan Dharma Row. DMK leader and Tamil Nadu Chief Minister MK Stalin's son Udhayanidhi Stalin is in serious trouble by making statements against Sanatan Dharma. On one hand, leaders of many
IND vs ENG: Samson has not been able to perform consistently well for India, scored three centuries but could not score 5+ runs six times
There are a lot of expectations from star batsman Sanju Samson in the five-match T20 series between India and England. However, he has failed to perform as expected in the first three T20s. He has
