Mumbai: The Indian currency touched all-time low against the US dollar in early trade on Tuesday. Strengthening of American currency and sustained foreign fund outflow weighed upon the Indian rupee. According to forex traders, higher dollar demand as well rising crude oil prices due to volatile geopolitical situation pushed the local currency further downward even as a positive domestic equity market provided some cushion.
At the interbank foreign exchange, the Indian rupee opened at 85.10 and slid further to hit a fresh all-time low of 85.16 against the US dollar, registering a loss of 5 paise from its previous closing level. On Monday, the rupee settled 7 paise lower at 85.11 against the US dollar.
Also Read: Junior World Pencak Silat Championship: India’s Nusrath Fatima Wins Silver
Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading higher by 0.10 per cent at 107.92. Foreign Institutional Investors (FIIs) were net sellers in the Indian capital markets on Monday, as they offloaded shares worth Rs 168.71 crore.
Post Your Comments