Rupee Slips 1 Paisa to Hit a Fresh All-Time Low Against US Dollar

Mumbai: Rupi moved in a strict range, and on Thursday, a powerful US dollar against the American currency and 1 Paisa record to close the lowest level of 88.76 for a lifetime between the weak domestic markets. Investors are concerned about the influence of global trade uncertainties and the impact of the US visa fee increase on CT Services Export.

In addition, the sale of green purchases by exporters by the RBI, the intervention reports prevented a sharp drop in the indigenous unit, he added.

In intercourse foreign exchange, Rupi opened against the US dollar at 88.65 and witnessed 88.76 against the highest level of 88.60 and against Greenback.

The local unit finally settled at 88.76 new low levels and not only decreased 1 Paisa to the previous closing.

On Wednesday, Rupi ended 2 Pais against the US dollar at 88.75.

“… RBI, Rupi, who intervened at 88.70 level, did not exceed the level, which shows that the APEKS bank preferred a measured depreciation and that the market participants followed the moves of the Central Bank before the meeting on October 1st.

Meanwhile, the dollar index, which measures Greenback’s power against a basket of six currencies, was traded by 0.07 percent at 97.80.

Global oil criterion Brent Ham was traded to USD $ 69,04 per barrel and 0.39 percent lower per barrel.

Mirae analyst Anuj Choudhary said, “We expect the Rupine to remain weak in the US dollar and to avoid risk in global markets in the midst of geopolitical tensions between Russia and Ukraine.” He said.

“The US visa fee increase problem and the increasing crude oil prices may be further suppressed. However, the sale of the dollar of exporters can support lower levels. Traders, last Q2 GDP, weekly unemployment claims and durable goods orders from the United States 88./40 Data, 89.

In the domestic stock market, Sensex received 555.95 points to settle 81.159.68, while stylish 166.05 points fell to 24.890.85.

According to Exchange data, foreign corporate investors evacuated 2,425.75 Crore stocks on Wednesday.

Meanwhile, Minister of Trade and Industry, Piyush Goyal, in the United States for trade talks. He is accompanied by senior officials of the ministry, including private secretary and India’s chief negotiator Rajesh Agrawal.

Goyal made talks with the US equivalent.

This visit comes to the background of the recently ending discussions on the recent -ending bilateral trade agreement in the new Delhi between US chief negotiator Brendan Lynch and Agrawal.