Currency Buzz: INR Falls On Dollar Strength Overseas

31 Oct 2022 , 05:09 PM

Strength in the American currency weighed on the Indian rupee that pared its initial gains and settled 31 paise lower at 82.78 (provisional) against the US dollar on Monday. All eyes are on the outcome of the Feds two-day policy review following which the US central bank is widely expected to announce a hike in the key interest rate. At the interbank foreign exchange market, the local unit opened at 82.35 and witnessed a high of 82.32 and a low of 82.80. It finally settled at 82.78 against the American currency, registering a fall of 31 paise over its last close of 82.47. Powered by Commodity Insights