Rupee Vs Dollar: Rupee Gains Against US Dollar In Early Trade

The Indian Rupee has registered a recovery from its record low against US Dollar on September 29, 2022. Indian Rupee opened at 81.59 and gained nearly 0.42% against Wednesday record low of 81.90. Rupee gained approximately 0.44% to 81.58 in early trade on Thursday.

Earlier on Wednesday, Rupee plunged 37 paise to close at an all-time low of 81.90 (provisional) against the US dollar as the strengthening of the American currency overseas and risk-averse sentiment among investors weighed on the local unit, according to a PTI report.

Meanwhile, Reserve Bank of India is expected to issue its latest monetary policy statement tomorrow (Friday) at 10 in the morning. Earlier this year on August 5, 2022, RBI raised the key lending rate by 50 basis points to 5.40%.