The Indian rupee on Thursday once again closed at an all-time low against the US dollar, ie 77.73. The rupee has closed at a record low for the fifth time during the last 10 trading sessions.
Bloomberg showed the partially convertible rupee closing at its all-time low at 77.73, while the rupee closed at 77.72 in provisional trade, according to news agency PTI.
The rupee had opened lower at 77.72 against the US dollar in the inter-bank foreign exchange market and had recovered to 77.63, falling as low as 77.76 during the day’s trading.
On Wednesday also, the Indian rupee closed at a record low of 77.61 against the US dollar, which was attributed to inflation and economic slowdown.
The rupee, which closed at a record low for the fifth time in the last 10 trading days on Thursday, could have been much higher had the Reserve Bank of India (RBI) not intervened in time.
The Indian central bank RBI defended the rupee by withdrawing money from its foreign exchange reserves. The rupee touched a record low this year for the first time in March when Russia attacked Ukraine.
Exchange market on Friday,
Let us inform you that in the foreign exchange market on Friday, the rupee fell by 19 paise against the US currency to close at Rs 77.93 per dollar. This was considered the lowest level of Rs. But on Monday the situation got worse. This fall has been attributed to the rise in crude oil prices and the continuous outflow of capital from the market by foreign institutional investors.
But despite this the selling price of petrol and diesel has remained stable. Let us tell you that last month, Finance Minister Nirmala Sitharaman had announced a reduction in excise duty on petrol by Rs 8 per liter and on diesel by Rs 6 per liter.
After this decision of the government, the prices of petrol and diesel were reduced across the country on 22 May and since then their prices have remained stable. After the reduction, petrol has become cheaper by Rs 9.50 and diesel by Rs 7 per liter across the country.
