Currency Buzz: INR Recovers From All-Time Lows

19 Jul 2022 , 05:05 PM

The Indian rupee recovered from its all-time low of 80.05 to close 6 paise higher at 79.92 (provisional) against the US dollar on Tuesday, tracking its regional peers and a positive trend in domestic equities. At the interbank forex market, the local unit opened lower at 80.00 against the greenback and fell further to an intra-day low of 80.05. The local unit recouped losses later and settled at 79.92 (provisional), registering a rise of 6 paise over its previous close. On Monday, the rupee for the first time declined to the low level of 80 against the US dollar in intra-day spot trading before ending the session 16 paise lower at 79.98 amid a surge in crude oil prices and unrelenting foreign fund outflows. Powered by Commodity Insights