Rupee Slides To Its Historical Low Level Against Dollar At 78.40 Rupees, Know Why | Dollar
Rupee at All Time Low: The rupee has seen a...
Rupee at All Time Low: The rupee has seen a historic fall on Thursday against the dollar. Due to heavy selling by investors, the rupee fell for the first time by 27 paise to Rs 78.40 against a dollar. At the close of the currency market, the rupee has closed at Rs 78.38 against a dollar.
Rupee battered against dollar
The rupee opened at 78.13 against the dollar in the interbank currency exchange market. But due to heavy selling of investors in the afternoon, it went down to Rs 78.40. If there was no weakness in the international market in crude oil prices, then the rupee could have fallen further. Due to the selling of foreign investors, Sensex 709 and Nifty closed with a fall of 225 points in the Indian stock market.
Why did the rupee fall?
The rupee has been depreciating against the dollar continuously since the war between Russia and Ukraine. The rupee has fallen to its all-time low of Rs 78.40 against the dollar as foreign investors withdrew their investments due to global volatility. Let us tell you that before the war started on February 23, 2022, the rupee was at Rs 74.62 against the dollar, which has fallen to Rs 78.40 on June 22, 2022. Actually, it is being feared that the US Federal Reserve may increase the interest rate further. Foreign investors have so far withdrawn more than Rs 2 lakh crore investment in Indian markets.
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