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Rupee Plunges To 82.86 Per Dollar On Higher Crude Prices

Story Highlights
  • Rupee depreciates by 21 paise closes at 82.86 against Dollar.

MUMBAI: Driven by higher crude prices in international energy markets, the Indian Rupee on Tuesday plunged alongside easing of COVID curbs in China mounting economic pressure.

Following Beijing’s removal of the requirement for arriving travellers to undergo quarantine, Asian currencies were mixed, with the Chinese yuan trading flat.

At the interbank forex exchange the Rupee, plunged by 21 paise closing at 82.86 Per Dollar.

Oil needs globally scored to three-week highs as China relaxed it COVID curbs demanding fuel and winter storms in the United States are affecting energy supply continued to bolster prices.

Over the previous two weeks, the rupee has fluctuated within a small range and found support between 82.8 and 82.90. In October, it fell to a record low of 83.29

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