Currency Buzz: INR Posts Fresh Record Lows At 79.36 Vs Dollar

5 Jul 2022 , 05:11 PM

The Indian rupee fell by 41 paise to close at a fresh lifetime low of 79.36 (provisional) against the US dollar on Tuesday amid a strong greenback overseas and unrelenting foreign fund outflows. At the interbank forex market, the local unit opened at 79.04 against the greenback and witnessed an intra-day high of 79.02 and a low of 79.38. It finally settled at 79.36 (provisional), down 41 paise over its previous close. On Monday, the rupee had closed at 78.95 against the US dollar. Indias merchandise exports in June rose by 16.78 per cent year-on-year to USD 37.94 billion while the trade deficit ballooned to a record USD 25.63 billion on account of a steep increase in gold and crude oil imports, according to the governments preliminary data released on Monday. Powered by Commodity Insights