Currency Buzz: INR Crashes Further Under 81 Per Dollar Mark

26 Sep 2022 , 12:27 PM

The Indian rupee extended decline further below Rs 81 per dollar on Monday tracking sharp gains in the US currency overseas. The US dollar index is hovering at fresh two decade peaks of 113.60, having hit 114 levels earlier in the day while benchmark US treasury yields are staying close to 3.8%. In addition, sharp risk aversion globally led to foreign fund outflows and dragged down domestic shares as BSE Sensex plunged 970.0 points or 1.6% to a near two-month low of 57,155.5 in morning trade. The domestic equities are down for the fourth session and tracking a decline in Asian markets after a sharp pullback on Wall Street on Friday, amid the prospect of rapid tightening by the Federal Reserve and growing recession fears. Currently, rupee is quoting at 81.63, down 54 paise as compared to previous close at 81.09. The domestic unit hit a low of 81.66 during the day. Powered by Commodity Insights