Currency Buzz: INR Dives Sharply To Hit Fresh All-Time Lows

28 Jun 2022 , 05:09 PM

The Indian rupee plunged sharply by more than 50 paise to close at record low of 78.85 (provisional) against the US dollar on Tuesday, weighed down by elevated crude oil prices, persistent foreign capital outflows and risk aversion in domestic markets. At the interbank foreign exchange market, the rupee opened lower at 78.53 against the greenback and finally settled at 78.85, down 52 paise over its previous close. Meanwhile, the dollar index, which gauges the greenbacks strength against a basket of six currencies, was trading 0.12 per cent higher at 103.80. Powered by Commodity Insights