Rupee Falls To 82.72 Against A Resurgent Dollar

MUMBAI: The Rupee reversed gains on Monday depriciating against the US Dollar.

The domestic currency had strengthened earlier in the day to 82.3237 before falling to a low of 82.7225 against the greenback.

Meanwhile, Gold price in the national capital fell Rs 146 to Rs 50,612 per 10 grams. In the previous trade, the yellow metal had touched Rs 50,758 per 10 grams.

Silver also declined by Rs 794 to Rs 57,305 per kilogram.

According to media report, the centre seeks to expand bilateral trade through Rupee Accounts. Reports state the objective of this discussion is to substitute SWIFT by creating a different payment ecosystem and overcome the dollar-dominated trades.

The nation’s flagship payment system, the Unified Payments Interface (UPI), created by NPCI, have gained recognition from all around the world. The Indian authorities are now also pushing the Rupay for more global acceptance.

The Fed policy outcome is due on Wednesday after Asian trading hours.

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