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Rupee depreciates 12 paise to close at 79.64 against US dollar
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IANS | 11 Aug, 2022
The
Indian rupee depreciated 12 paise at close on Thursday after reversing
early gains due to sharp rise in crude oil prices.
At
the interbank foreign exchange market, rupee ended at 79.64, after
opening strong at 79.2225 from its previous close of 79.52.
The
Brent crude oil prices in the international market has risen sharply and
at the close of Indian market hours, it was $98.39 a barrel, up 1.02
per cent.
The rupee appreciated in the early trade after the US
inflation data for July came in below the estimates, raising hopes that
the Federal Reserve may not be that aggressive in hiking interest rates
in its next meeting.
"The lower US CPI print did trim the odds of
a 75 bps rate hike in September with DXY cooling off below 105.00
levels. But the lower inflation figure is purely because of cooling off
in oil & gas prices last month. Food and shelter costs still
continues to be sticky.
"Thus on the contrary of data, Fed
members continue to have their hawkish stance in place and still believe
inflation is still unacceptably high," said Kunal Sodhani, Vice
President, Global Trading Centre, Shinhan Bank.
Meanwhile, Sensex
ended up 515.31 points or 0.88 per cent at 59,332.60, while Nifty ended
124.25 points or 0.71 per cent higher at 17,659.00 on Thursday.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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₹95.3
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₹93.6 |
UK Pound
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₹127.7
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₹123.7 |
Euro
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₹110.65
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₹106.9 |
| Japanese
Yen |
₹59.75 |
₹57.9 |
| As on 24 Jun, 2026 |
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