Currency Buzz: INR Depreciates Further To Hit New Lifetime Low

13 Jul 2022 , 05:08 PM

The Indian rupee depreciated by 3 paise to close at a record low of 79.62 (provisional) against the US currency on Wednesday following a firm dollar in overseas markets and losses in the domestic stock markets. Crude oil prices trading near USD 100 per barrel level, however, supported the local unit. At the interbank forex market, the local unit opened strong at 79.55 against the greenback but could not hold on to gains and slipped in the negative territory. It witnessed an intra-day high of 79.53 and a low of 79.68. It finally settled at 79.62 (provisional), down paise over its previous close of 79.59. Meanwhile, the dollar index, which measures the greenbacks strength against a basket of six currencies, advanced 0.09 per cent to 108.17. Powered by Commodity Insights