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Rupee Vs Dollar: Rupee Falls 34 Paise To All-Time Low Of 81.92 In Early Trade
The Indian Rupee fell to a new record low of 81.92 against the US Dollar in early trade on Wednesday. Rupee depreciated 34 paise to a new all-time low of 81.92 at the open on September 28, 2022. Meanwhile, the 10-year bond yield rose 5 bps to 7.34% at the open.
Earlier on September 27, the Rupee consolidated in a narrow range and settled 14 paise higher at 81.53 against the US dollar as the American currency retreated from its elevated levels, according to a PTI report. It ended at 81.53, up 14 paise from its previous close on Tuesday.
According to Megh Mody - Commodities and Currencies Research Analyst, Prabhudas Lilladher Pvt Ltd, "Rupee technically has depreciated 3.80% from 79 levels which was recently tested. I think Rupee will take support of 82 and remain in the range of 82-80 levels. This consolidation will benefit the importers if it tests 80 levels over short term."
