Currency Buzz: INR Briefly Hits 80 Mark; Settles At Rs 79.98/$

18 Jul 2022 , 05:08 PM

The Indian rupee breached a crucial Rs 80 per dollar mark during intraday moves on Monday, before easing slightly to end the day at 78.98 against the greenback. The domestic currency recovered considerably in early trades amid weakness in dollar overseas but unrelenting foreign fund outflows and rebound in crude oil prices weighed on the domestic currency, sending it to fresh record lows against the dollar. At the interbank forex market, the local unit opened at 79.76 against the greenback but later lost ground to touch the psychological low mark of 80.00 against the American currency. INR closed at 79.98 (provisional), registering a fall of 16 paise over its previous close at 79.82 against the US currency. Powered by Commodity Insights