SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 04 Aug, 2022  

Rupee.9.New.Thmb.jpg Rupee falls 30 paise to close at 79.46 against USD

Rupee.9.New.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
IANS | 04 Aug, 2022
The rupee has depreciated 30 paise against the US dollar on Thursday as sentiments of investors dampened due to weak macroeconomic data and tensions between US-China.

At the interbank foreign exchange market, the rupee opened at 79.21 and then fell to 79.46 against the US dollar. The rupee ended at 79.16 against the dollar on Wednesday.

Market participants said that most traders remained cautious ahead of the Reserve Bank of India's (RBI) monetary policy due on Friday.

"Rupee dragged lower below 79.75 as volatility increased in the market on the back of geopolitical issues which may arise between US-China conflict over Taiwan. More of a panic sentiment rally was witnessed across currencies especially Chinese neighbouring countries due to geographical locations," said Jateen Trivedi, VP Research Analyst at LKP Securities.

India's exports dipped marginally for the first time in June and the trade deficit has recorded tripled to $31 billion on 70 per cent rise in crude oil prices. By the end of Indian market hours, Brent crude oil prices were trading at $97.15 a barrel.

On the domestic equity front, Sensex fell just over 50 points or 0.09 per cent to 58,298.80, and Nifty fell mere 6.15 points or 0.04 per cent to 17,382.00.

"The new broad range for USD INR has now turned to 78.20-80.20 levels and may consolidate within these levels for sometime now," said Kunal Sodhani, Vice President, Global Trading Centre, Shinhan Bank.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter