Currency Buzz: INR Cautious Ahead Of RBIs Monetary Policy

4 Aug 2022 , 04:54 PM

The Indian rupee depreciated 17 paise to close at 79.32 (provisional) against the US dollar on Thursday, weighed down by disappointing macroeconomic data and US-China tensions. The domestic currency was also cautious ahead of the RBIs monetary policy decision on Friday. At the interbank foreign exchange market, the local currency opened at 79.21 and finally ended at 79.32, down 17 paise over its previous close. On Wednesday, the rupee had slumped by 62 paise to close at 79.15, marking its worst single-day fall in the current fiscal year. The dollar index, which gauges the greenbacks strength against a basket of six currencies, fell 0.27 per cent to 106.22.Powered by Commodity Insights