Rupee ends at an all-time low of 78.32; No postponement coming soon

Rupee ends at a record low of 78.32 against the dollar

The rupee ended tentatively on Thursday at its record low of 78.32 against the dollar, after closing at that level in the previous session.

This is in line with a broader global risk asset decline on recession fears.

While Indian stocks have recovered but overall performance indicates more pain ahead.

PTI reported that the rupee opened at 78.26 and eventually settled at its low of 78.32, unchanged from its previous close.

The rupee fell 19 pauses on Wednesday to settle at an overall low of 78.32 against the US dollar.

The Indian rupee wiped out early-morning gains as safe haven demand propelled the dollar ahead of quarter-final adjustments, Dilip Parmar, research analyst at HDFC Securities, told PTI.

Mr Parmar further said there was a high chance of an almost bounce amid a decline in commodities, strength in regional currencies and recovery in risk assets.

“Spot USDINR is expected to be in the narrow range of 78.10 to 78.50 before going to 79 odd levels,” he added.

The dollar rose against a basket of major currencies, with the index exceeding 8 percent for the year, reflecting broad risk-off sentiment and the dollar’s ​​Fed-driven yield advantage.

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