Currency Buzz: Rising Crude Oil Prices Weighs Down INR

11 Aug 2022 , 05:08 PM

The Indian rupee depreciated by 36 paise to close at 79.61 (provisional) against the US dollar on Thursday amid rising crude oil prices. At the interbank foreign exchange market, the local currency opened at 79.22 and saw an intra-day high of 79.22 and a low of 79.69 against the American currency. It finally ended at 79.61, down 36 paise over its previous close of 79.25. Meanwhile, the dollar index, which gauges the greenbacks strength against a basket of six currencies, fell 0.23 per cent to 104.95, after official data showed that US inflation slowed down from a 40-year high in June to 8.5 per cent in July on lower gasoline prices.Powered by Commodity Insights