Rupee Surges 15 Paise to 78.07 Against US Dollar in Early Trade

Story Highlights
  • Indian Rupee surges 15 paise to 78.07 against US Dollar.
  • Rupee surged after the Fed on Wednesday hiked interest rates.
  • The Indian Rupee fell to all time low of Rs 78.22.

The Indian Rupee on Thursday rebounded sharply from its new all-time low close as the dollar was off its two-decade highs. Weakening to an all-time low of Rs 78.22 per dollar in the previous session, the currency surged 15 paise to 78.07 against the US dollar in early trade on Thursday.

The dollar retreated from a 20-year high after the Fed delivered its biggest rate hike in decades. At the interbank foreign exchange, the rupee opened strong at 78.06 against the US dollar, then inched lower to quote 78.07, registering a rise of 15 paise over the last close.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.21 per cent to 104.94. Global oil benchmark Brent crude futures advanced 0.55 per cent to USD 119.16 per barrel

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