Rupee Slumps To All-Time Low Of 80.15 As Dollar Hits New Two-Decade Peak On Fed's Policy Pain
NDTV
Rupee Today: The Indian currency opened significantly weaker against the greenback after more policy 'pain' statements from major central banks
The rupee slumped to a record low, after opening significantly weaker against the greenback driven by more policy 'pain' statements from major central banks even at the cost of economic slowdown or recession, driving the dollar to a new two-decade peak.
PTI reported that the domestic currency depreciated 31 paise to an all-time low of 80.15 against the US dollar in early trade on Monday tracking the strength of the greenback and firm crude oil prices.
At the interbank foreign exchange, the rupee opened at 80.10 against the dollar, then lost ground to quote at 80.15, registering a fall of 31 paise from the last close of 79.84 on Friday, according to PTI.
According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee opened on a weak note after a hawkish Mr Powell kept US rate hikes in prominence until inflation falls to 2 per cent.
