• Monday, August 15, 2022


Bearish trend push Indian rupee to record Low of 71.79 against firm dollar

A bank staff member counts Indian 500 rupee notes to give to customers on November 24, 2016, in the wake of the demonetisation of old 500 and 1000 rupee notes in Mumbai. (Photo Credit: INDRANIL MUKHERJEE/AFP/Getty Images).

By: Radhakrishna N S

Indian rupee continues to remain in the grip of bears for Wednesday (05) as continued its downward journey to touch its new record low of 71.79 against the dollar, declining 21 paise in the late morning trade after the banks and importers turned their eye to buy the dollar. In the early trade, the rupee moved up at 71.43 in a volatile trade against Tuesday’s (04) closing level of 71.58 at the interbank foreign exchange market in Mumbai. The dollar edged higher against a basket of currencies in the global market amid persisting trade war tensions between the US and…

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