Currency Buzz: Dollar Strength Led INR Lower For Second Straight Day

19 Aug 2022 , 05:08 PM

Strengthening greenback overseas weighed down the Indian rupee that fell for the second day in a row. The rupee depreciated 20 paise to close at 79.84 (provisional) against the US dollar on Friday. At the interbank foreign exchange market, the local currency opened at 79.75 and moved in a range of 79.73 to 79.84 during the day. It finally ended at 79.84 against the American currency, down 20 paise over its previous close of 79.64. The dollar index, which gauges the greenbacks strength against a basket of six currencies, rose 0.18 per cent to 107.67. Foreign fund outflows from Indian equities also dragged the local unit down. Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 1,706.00 crore, as per exchange data. Powered by Commodity Insights