Currency Buzz: INR Plunges Back To $79 Levels

3 Aug 2022 , 05:25 PM

The Indian rupee slumped 68 paise to close at 79.21 (provisional) against the US dollar on Wednesday, as disappointing macroeconomic data weighed on investor sentiment. Indias trade deficit widened to a record low USD 31.02 billion in July amid fall in exports. At the interbank foreign exchange market, the local currency opened lower at 78.70 and fell further to settle at the days low of 79.21. On Tuesday, the rupee rallied 53 paise its best single-day gain in over 11 months to close at an over one-month high of 78.53 against the US dollar. Powered by Commodity Insights