Dollar vs Rupee: On Wednesday, the dollar's rupee reached the lowest level ever at 81.93. The rupee had crossed the level of 81.57 in Tuesday's trade.
New Delhi: On Wednesday i.e. on September 28, Rupee (Dollar vs Rupee) opened at record low level of 81.90 against the dollar. At the time of writing the news, it was trading at the level of 81.93 against the dollar. The weakness in the rupee is being seen due to the continuous strengthening of the dollar, withdrawal of funds from the Indian capital market by foreign institutional investors and increased risk in the equity market. The rupee had crossed the level of 81.57 against the dollar in the last trading session.
The Reserve Bank of India (RBI) is keeping an eye on the weakness in the rupee. If today or tomorrow the Reserve Bank does not take any step directly or indirectly, then on September 30, it can definitely take some concrete steps in this regard.
According to sources, the rupee was seen trading at 81.90 after touching the level of 81.9350 against the dollar. The US dollar index was seen at a new high of 114.68 in Asian trading. The US 10-year Treasury bond yield reached 4 percent for the first time since 2010.
On September 27, the rupee had gained 37 paise to 81.30 against the US dollar in early trade on Tuesday due to weakness in the US currency. In the interbank foreign exchange market, the rupee opened at 81.45 against the dollar and rose to 81.30. In this way, the rupee registered a gain of 37 paise against the previous closing price. After this, today i.e. on September 28, with the opening of the market, there was a fall in the rupee.
The Indian rupee has been falling continuously for a week against the dollar. On Monday (26 September 2022), the rupee had reached a low of 81.55 per dollar. With the rupee falling to a record low against the US dollar, imports of crude oil and other commodities will become costlier, which will further increase inflation. Inflation already remains above the Reserve Bank of India’s (RBI) maximum convenient level of 6 per cent.