Currency Buzz: INR Falters Back Under Rs80/$ Mark

29 Aug 2022 , 01:20 PM

The Indian rupee faltered back under Rs 80/$ mark on Monday, tracking spike in the US dollar and as sharply negative equities failed to support. INR fell to a one and half month low and is quoting at 80.05 against the dollar after hitting the days low at 80.15. The dollar index that measures the greenback against a basket of currencies was at 109.12 after climbing to 109.48 during the day. Meanwhile, the domestic equity benchmarks continued to trade with deep cuts in early afternoon trade. The Nifty continued to trade below the 17,350 mark. Investor sentiments were dented tracking weak global cues as Fed Chair in his address last week flagged the likely need for restrictive monetary policy to curb high inflation. The NSEs India VIX, a gauge of the markets expectation of volatility over the near term, jumped 9.77% to 20. Powered by Commodity Insights