Recap: On Wednesday, the rupee weakened by 20 paise, hitting a record low of 96 90 versus the US dollar in early trading, affected by a stronger buck, high petroleum costs, and continuing Iran-US stress.
Key Points
- The rupee opened up at 96 89 at the interbank fx market and then declined to a record low of 96 90 against the US buck.
- The BSE Sensex dropped by 517 11 indicate 74, 667 51, while the NSE Nifty decreased by 152 45 points to 23, 475 80 in very early trading.
- The buck index was marginally up by 0. 01 per cent at 99 262
- Brent unrefined eased 0. 35 percent to USD 110 59 per barrel in futures profession.
- International Institutional Investors (FIIs) were web vendors, unloading equities worth Rs 2, 457 49 crore on Tuesday.
What This Means
The rupee’s autumn can impact import expenses, possibly bring about rising cost of living. Proceeded tracking of foreign fund streams and worldwide crude oil prices is important for recognizing the rupee’s future trajectory.
Source: indianexpress.com
