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HomeBusinessRupee Ends At All-Time Low Of 78.32; No Respite Anytime Soon

Rupee Ends At All-Time Low Of 78.32; No Respite Anytime Soon

Rupee ends provisionally at a document low of 78.32 towards the greenback

The rupee ends provisionally at its document low of 78.32 towards the greenback on Thursday, after closing at that degree within the earlier session.

That strains up with a broader international threat belongings plunge on recession fears.

While Indian equities recouped, however total efficiency factors to extra ache forward. 

PTI reported that the rupee opened at 78.26 and eventually settled at its all-time low 78.32, unchanged from its earlier shut.

On Wednesday, the rupee plunged by 19 paise to settle at an all-time low degree of 78.32 towards the US greenback.

The Indian rupee erased early morning good points as safe-haven demand drove the buck forward of quarter-end changes, Dilip Parmar, Research Analyst at HDFC Securities, advised PTI.

Mr Parmar additional stated that there’s a excessive probability of a close to bounce amid a fall in commodities, power in regional currencies and restoration in threat belongings.

“Spot USDINR is expected to be in the narrow range of 78.10 to 78.50 before heading towards 79 odd levels,” he addd.

The greenback gained towards a basket of main currencies, with the index exceeding 8 per cent for the 12 months, reflecting the broad risk-off sentiment and the greenback’s Fed-driven yield benefit.

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