Sep 22, 2022
After dropping to a record low of 80.4875 from its previous close of just below the psychologically critical 80-per-dollar threshold, the rupee was quoted by Bloomberg at 80.4863 against the dollar. According to PTI, the local currency fell 42 paisas in early trade to a new record low of 80.38 against the US dollar. Forex traders claim that the local currency was hurt by the worldwide dollar's strength, a flat domestic equity market, risk-off emotions, and high crude oil prices."The Reserve Bank of India may try to change its intervention function given the widespread dollar strength. The most anticipated range on Thursday is between 80.10 and 80.50.
