Rupee Slips to 82.7550 as BOJ Makes Surprise Policy Tweaks

MUMBAI: The policy change by the Bank of Japan (BOJ) influenced the domestic units stance in the market today. The Indian rupee closed at 82.7550 per dollar, down from 82.7050 in the previous session.

The local currency was trading at 82.75 against the dollar, after falling to record low of 83.29 in October. It has depreciated by over 11.5% so far in 2022 and is on course for its worst year in the last nine.

The dollar index was down over 0.5% to near 104, thanks mainly to the more than 3% surge in the yen.

Japan expanded the range of 10-year Japan Government bond yield from +/-0.25 per cent to +/-0.50 per cent, the risky asset markets fell as the last major central bank became hawkish on inflation which in Japan is at 1.99 per cent.

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