Currency Buzz: Strong Dollar Weighs Down INR

1 Sep 2022 , 04:55 PM

The Indian rupee declined by 4 paise to close at 79.56 (provisional) against the US dollar on Thursday due to a stronger dollar in the global markets and losses in the domestic equity markets. At the interbank foreign exchange market, the domestic currency opened at 79.55 per dollar. It hovered in a range of 79.30 to 79.66 during the session. The domestic unit finally settled at 79.56, down 4 paise over its previous close. On Tuesday, the rupee had finished at a nearly two-week high of 79.52. The domestic forex market was closed on Wednesday on account of Ganesh Chaturthi. Meanwhile, the dollar index, which gauges the greenbacks strength against a basket of six currencies, was trading 0.20 per cent higher at 108.92.Powered by Commodity Insights