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HomeBusiness NewsRupee falls to all-time low of 78.29 towards U.S. greenback

Rupee falls to all-time low of 78.29 towards U.S. greenback

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International oil benchmark Brent crude futures fell 1.46 per cent to $120.23 per barrel

International oil benchmark Brent crude futures fell 1.46 per cent to $120.23 per barrel

The rupee slipped 36 paise to its all-time low of 78.29 towards the U.S. greenback in early commerce on June 13, monitoring the energy of the American foreign money abroad as buyers flocked to the safe-haven foreign money amid an general risk-averse sentiment.

Foreign exchange merchants mentioned weak Asian currencies, a lacklustre development in home equities and chronic overseas capital outflows weighed on investor sentiments.

On the interbank overseas trade, the rupee opened at 78.20 towards the American greenback, then misplaced floor to cite at 78.29 — its report low degree, registering a fall of 36 paise from the final shut.

On Friday, the rupee tumbled 19 paise to shut at a recent lifetime low of 77.93 towards the U.S. greenback.

“Weak international sentiments and weak Asian and European currencies have allowed the rupee to open beneath 78 after RBI ensured it didn’t cross 77.70. Have to observe the RBI as to the way it behaves within the subsequent few days,” mentioned Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

International oil benchmark Brent crude futures fell 1.46 per cent to $120.23 per barrel.

In the meantime, the greenback index, which gauges the buck’s energy towards a basket of six currencies, was buying and selling 0.30 per cent larger at 104.45.

On the home fairness market entrance, the 30-share Sensex was buying and selling 1,461.54 factors or 2.69 per cent decrease at 52,841.90, whereas the broader NSE Nifty tanked 418.95 factors or 2.59 per cent to fifteen,782.85.

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Overseas institutional buyers had been web sellers within the capital market on Friday as they offloaded shares value ₹3,973.95 crore, as per inventory trade information.

By- The Hindu

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