Indian rupee hits record low vs US dollar amid oil price surge

The Indian Rupee has hit a record low compared to the US dollar today as oil prices remain high. The slightly reversible rupee traded at 77.80 per dollar after touching the low record of 77.81. The previous low of 77.7975 was touched on May 17. On Wednesday, the rupee was restored to close the 10-day high of 77.68 against the US currency.

“The sword is still hanging in the rupee amidst the persistence of FII sales from emerging markets leading to weak Asian currencies, higher oil prices, and a review of inflation pressures in future areas. However, the only hope for the rupee at the moment will remain the RBI who has actively and vigorously participated in protecting the rupee from the heat so far, “said Amit Pabari, MD or CR Forex Advisors. Vikram Movie Download Hindi Dubbed Filmyzilla, Telegram and Google Drive

The Reserve Bank of India (RBI) on Wednesday raised the key interest rate by 50 points, the second increase in five weeks, in return for inflation which has seen it continue to hurt consumers in the near future. Meanwhile, the dollar index, which measures the strength of the greenback against a six-coin basket, was trading 0.01 percent above 102.55.

Investors in foreign institutions were sellers of total market capitalization on Wednesday as they issued shares worth R2,484.25 crore, according to stock trading data. Watch Sonic the Hedgehog 2 (2022) Full Movie On Google Drive

Global oil prices today halted some early benefits after China imposed new measures to shut down COVID-19 in certain parts of Shanghai. The future of Brent crude in August fell by 15 cents, or 0.1%, to $ 123.43 a barrel, after rising to several months high on Wednesday.

Oil gained momentum as China’s exports in May dropped by 16.9% from last year as simplifying COVID curbs allowed some industries to restart. Realme GT Neo 3T Full Specs and Pricing | Realme GT Neo 3T Detailed Review

“The dollar index is back and it’s strong. After the World Bank revised its global growth prospects to 2.9%, both the dollar index and the U.S. bond yield. found again. High crude oil prices are a major risk to global inflation which also supports the safe purchase of US dollars. U.S. Dollar has reached a new high of 20 years compared to the Japanese yen due to the Bank’s Japanese monetary policy. The US dollar could also show strength against the euro, if the ECB fails to provide guidelines for raising interest rates. The 10-year US bond produces more than 3.0% and supports the US dollar, “said Rahul Kalantri, VP Commodities, Mehta Equities Ltd. The Best Exercise to Lose Belly Fat | Lose Belly Fat Fast

“We expect the dollar index to remain volatile in today’s system ahead of ECB monetary policy meetings and could hold its support level of 101.85 in closing,” he added.

The rupee dropped by 8 paise to close to 77.76 (temporary) compared to the U.S. dollar on Thursday, heavy with crude oil prices and a steady flow of foreign currency. In the foreign exchange market, the rupee opened below 77.74 compared to the greenback and finally remained at 77.76, falling 8 times in value over its previous close. All of Us Are Dead Season 2 Download Torrent Release Date and News

Rupee slips 8 paise to close at 77.76 against US dollar

The rupee dropped by 8 paise to close to 77.76 (temporary) compared to the U.S. dollar on Thursday, heavy with crude oil prices and a steady flow of foreign currency. In the foreign exchange market, the rupee opened below 77.74 compared to the greenback and finally remained at 77.76, falling 8 times in value over its previous close.

During the session, the rupee touched a very low of 77.81 compared to the American currency. By Wednesday, the rupee had recovered from its low record to close the top 10 passes with 77.68.

The Reserve Bank of India (RBI) on Wednesday raised a significant interest rate by 50 points, the second increase in five weeks, is a return to inflation that has seen it continue to hurt consumers in the near future. The rate hike comes after a 40 bps increase by the RBI at an informal meeting on May 4. “Large crosses remain under pressure following the strong dollar strength. How to make UPI Payments without an Internet connection

The focus will be on the European Central Bank (ECB) policy statement and the hawkish comments could limit the weakness of the Euro, “Somaiya said, adding,” We expect the USDINR to trade sideways and quote at 77.40 and 78.05. ” , the dollar index, which measures the strength of the greenback against a basket of six coins, was trading at 0.06 percent below 102.48.

International oil price Brent crude futures dropped 0.23 percent to USD 123.29 on the barrel. Ahead of the domestic stock market, the 30-stock BSE Sensex completed 427.79 points or 0.78 percent above 55,320.28 percent, while the broad NSE Nifty reached 121.85 points or 0.74 percent to 16,478.10. Foreign institutional investors remain the sole traders in the financial market on Wednesday as they issue shares worth Rs 2,484.25 crore, according to stock exchange data.

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