The rupee opened lower and dropped 24 paise to record low of 74.46 per dollar.
The Indian rupee opened lower and dropped 24 paise to record low of 74.46 per dollar.
On the international front, oil dropped to extend big losses from the previous session as global stock markets suffered a rout, with crude prices also taking a hit from a weekly industry report showing US crude inventories had risen more than expected, as per media reports.
Gold prices inched down as robust US data potentially bolstered the chances of multiple US interest rate hikes over the next year.
The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 74.13 while for the Euro it was 85.26. The RBI’s reference rate for the Yen stood at 65.60; reference rate for the Great Britain Pound (GBP) stood at 97.62.
Yesterday, the rupee snapped its six-session losing streak to end 18 paise higher at 74.21 against the US dollar after the American currency weakened overseas.
On the international front, oil dropped to extend big losses from the previous session as global stock markets suffered a rout, with crude prices also taking a hit from a weekly industry report showing US crude inventories had risen more than expected, as per media reports.
Gold prices inched down as robust US data potentially bolstered the chances of multiple US interest rate hikes over the next year.
The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 74.13 while for the Euro it was 85.26. The RBI’s reference rate for the Yen stood at 65.60; reference rate for the Great Britain Pound (GBP) stood at 97.62.
Yesterday, the rupee snapped its six-session losing streak to end 18 paise higher at 74.21 against the US dollar after the American currency weakened overseas.
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