iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Currency Buzz: INR Plummets To Fresh Lows; Breaches 82/$ Mark For First Time Ever

28 Sep 2022 , 04:59 PM

The Indian rupee plunged 37 paise to close at an all-time low of 81.90 (provisional) against the US dollar on Wednesday as the strengthening of the American currency overseas and risk-averse sentiment among investors weighed on the local unit. In the intra-day trade, the rupee slipped below the 82-level for the first time against the American currency, as a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite. At the interbank foreign exchange market, the local currency opened at 81.90, then fell further to close at an all-time low of 81.90 against the American currency, registering a decline of 37 paise over its previous close. DXY increased to a 20-year high of 114.63 after a White House official ruled out a currency agreement to weaken the currency. Meantime, Chicago Fed President Charles Evans and St. Louis Fed President James Bullard made a case for more rate hikes, reaffirming the central banks commitment to tame inflation even at the risk of a recession. Powered by Commodity Insights

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.