INR Settles Lower

2 Jun 2022 , 05:11 PM

The Indian rupee depreciated by 10 paise to close at 77.60 (provisional) against the US dollar on Thursday, even as oil prices eased and domestic equities settled on a positive note. At the interbank foreign exchange market, the rupee consolidated in a narrow range. It opened lower at 77.61 against the greenback and finally settled at 77.60, down 10 paise over its previous close. During the session, the rupee touched an intra-day low of 77.63 and a high of 77.54. On Wednesday, the rupee had recovered from its record low to close 21 paise higher at 77.50. Meanwhile, the US dollar index is seen consolidating near 102 levels, tracking higher US treasury yields. US 10-year treasury yields have been rising as the U.S. Federal Reserve has raised interest rates quickly in an attempt to bring soaring inflation under control. The US 10-year treasury yield lifted to 2.95%. Powered by Commodity Insights