Rupee Rebounds From All-Time Low, Trades At 79.92 In Early Trade

Story Highlights
  • Rupee bounds to 79.92 against US dollar.to
  • A growth by 7 paisa was observed.
  • The Rupee has been deficit on international trades since the Russians invaded Ukraine.

Mumbai: The Indian currency on Friday plunged by 7 paise taking the Rupee to 79.92 against the greenback. The rise came as a firm trend in domestic equities and fresh foreign fund inflows strengthened investor sentiment.

At the interbank foreign exchange, the rupee opened up at 79.95 against the American dollar, then gained further strength to trade at 79.92 in early deals, registering a gain of 7 paise over the last close.

On Thursday, the rupee plunged 9 paise to close at a new all-time low of 79.90 against the US dollar.

A consistent depreciation in the value of the Indian rupee against the dollar has been witnessed in the past few days. The collapse of the rupee started days after Russia invaded Ukraine when it hit 77 per dollar for the first time ever in March and has since hurled towards new lows breaching several key psychological threshold levels almost every other day.

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