Summary: On Wednesday, the rupee weakened by 20 paise, striking a record low of 96 90 against the United States buck in very early trading, affected by a more powerful dollar, high crude oil prices, and continuing Iran-US tensions.
Bottom line
- The rupee opened at 96 89 at the interbank forex market and then declined to a record low of 96 90 versus the United States buck.
- The BSE Sensex fell by 517 11 points to 74, 667 51, while the NSE Nifty reduced by 152 45 points to 23, 475 80 in early trading.
- The buck index was marginally up by 0. 01 percent at 99 262
- Brent unrefined eased 0. 35 per cent to USD 110 59 per barrel in futures profession.
- International Institutional Financiers (FIIs) were net vendors, unloading equities worth Rs 2, 457 49 crore on Tuesday.
What This Indicates
The rupee’s loss can influence import expenses, possibly causing rising cost of living. Continued tracking of foreign fund flows and international petroleum prices is essential for comprehending the rupee’s future trajectory.
Source: indianexpress.com
