Rupee falls 23 paise to close at 79.67 against US dollar


Mumbai, Aug 18 (IANS): The Indian rupee depreciated nearly 23 paise to close at 79.67 against US dollar following sell-off in global assets which followed in domestic equities and corporate outflows, dealers said.

At Interbank foreign exchange market, rupee ended at 79.67, as against 79.44 close on the previous trading session against US dollar.

"It was largely range bound within the range of 79.58 to 79.70. Overall demand was there by importers and corporate outflows," said CR Forex, MD, Amit Pabari.

By the closing of market trading hours, Brent crude oil prices were trading at $94.83 a barrel in the international market.

The minutes of Fed's July policy showed Fed officials find it appropriate to slow the pace of rate hikes at some point. While most members backed 75 bps rate hike in July, they expressed concerns on overtightening. Additionally, Fed members emphasised the need to gauge the impact of earlier rate hikes on inflation and economic activity.

However, the minutes did not give a clear insight to quantum of rate hike at September/upcoming meetings, the market revised its rate hike expectations for the September meeting.

Meanwhile, Sensex ended 37.87 points or 0.06 per cent up at 60,298.00, and Nifty ended 12.25 points or 0.07 per cent higher at 17,956.50 on Thursday.

 

  

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Comment on this article

  • ca girishkk, valencia/m'lore

    Thu, Aug 18 2022

    Suspect... anti nationals (neither green or saffron - they color neutral) & hand of neighboring country....!!!!

    DisAgree Agree Reply Report Abuse

  • abu mohammed, KSA Mangalore

    Thu, Aug 18 2022

    no it is not falling , according to our pickle economist , Rupee is trying settle its right place.

    DisAgree Agree Reply Report Abuse

  • Observer, Mangaluru

    Thu, Aug 18 2022

    The image of Modi falls along with rupee...

    DisAgree Agree Reply Report Abuse


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Title: Rupee falls 23 paise to close at 79.67 against US dollar



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