Re at record low of 83.11/$
Home currency falls 29 paise on strong US dollar and firm crude oil prices; Dollar index, which gauges the Greenback’s strength against a basket of 6 currencies, rose 0.01% to 102.85.
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Mumbai The rupee depreciated 29 paise to settle at an all-time low of 83.11 against the US dollar on Monday, weighed down by a strong Greenback overseas and firm crude oil prices in the international markets. Foreign fund outflows also weighed on the local unit, analysts said. At the interbank foreign exchange, the domestic unit opened at 83.04 against the dollar, and it finally ended the day at 83.11 (provisional), registering a fall of 29 paise from its previous close. During the session, the local unit touched a peak of 82.94 and a low of 83.11. On Friday, the domestic unit had settled 16 paise lower at 82.82 against the dollar.
“The rupee fell on weak domestic markets and a strong US dollar. India’s IIP also grew at a slower pace as compared to the forecast,” said Anuj Choudhary, research analyst at Sharekhan by BNP Paribas.
The dollar gained after US PPI data was higher than forecast, and safe haven demand on risk aversion in global markets.
