Currency Buzz: INR Depreciates Further To Hit New Lifetime Lows

11 Jul 2022 , 05:06 PM

The Indian rupee depreciated by 22 paise to slump to a new record low of 79.48 (provisional) against the US dollar on Monday, tracking a strong greenback overseas and subdued domestic equities. However, receding crude oil prices in the international market restricted the rupees loss. At the interbank forex market, the local unit opened weak at 79.30 against the greenback and witnessed an intra-day high of 79.24 and a low of 79.50. It finally settled at 79.48 (provisional), down 22 paise over its previous close of 79.26. The rupees previous record low was 79.38 against the US dollar recorded last week. Benchmark 10-year g-sec yields closed at 7.43%. The dollar index, which measures the greenbacks strength against a basket of six currencies, advanced 0.56% to 107.60. Powered by Commodity Insights