Rupee slides to all-time low of 81.93 against US dollar


Mumbai, Sep 28 (IANS): The Indian rupee has depreciated to trade at an all-time low of 81.93 against the US dollar after the surge in dollar index, dealers said.

At the interbank foreign exchange, the rupee opened at 81.90 against the dollar, then fell to 81.93, against the 81.58 close in the previous trading session.

"The dollar index at a 20-year high had led to sharp depreciation in the Indian rupee over the last week. Despite that, INR has outperformed other global currencies, as RBI has been actively supporting the domestic currency by selling the US dollars," said Aishvarya Dadheech, Fund Manager, Ambit Asset Management.

Dadheech also said that in the short term, due to global risk-off sentiment, we can expect more pressure on the Indian rupee. It will be difficult for the RBI to continue selling the US dollars aggressively any further, as the remaining forex reserves are around 9-10 months of import cover only. Most likely, RBI will have to increase repo rates (post the recent FED outcomes) to defend against further pressure on INR. Nevertheless, in the medium term, the outperformance of the Indian rupee will be supported by lower external debt (below 20 per cent as of March 2022), robust inflows (FDI+FII), a resilient economy, and adequate forex reserve ($540 billion).

The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.16 per cent to 114.235.

The Brent crude oil prices were trading at $85.26 per barrel.

Going forward, the investors are eying RBI monetary policy scheduled on Friday and the dollar index for the short-term directional trend.

Meanwhile, benchmark indices are trading marginally lower during the afternoon trade, with Sensex falling 112.02 points and Nifty by 38.30 points.

At 2.00 p.m., Sensex was trading at 56,987.85, which was down 119.67 points or 0.21 per cent, whereas Nifty was down 64.35 points or 0.38 per cent at 16,943.05.

 

 

 

 

  

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  • Jason, Mangalore/UK

    Thu, Sep 29 2022

    Between Jan - Aug 2013: Dollar index (vs all major currencies): ~0% (almost flat) USD vs INR: +25% In 2022: Dollar index (vs all major currencies): +16% USD vs INR: +9% That is the difference between 2013 and 2022

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  • Thouseef, Mangalore

    Wed, Sep 28 2022

    Heyyy wowwww 1dollar is 81 rs. Wowwww ache din aagaye

    DisAgree [1] Agree [6] Reply Report Abuse

  • Leo, Surathkal

    Wed, Sep 28 2022

    A good king will build the country and A BAD king will distroy

    DisAgree [2] Agree [15] Reply Report Abuse

  • MB, Udupi

    Wed, Sep 28 2022

    Where is our Rs1=$17 man?

    DisAgree [1] Agree [12] Reply Report Abuse

  • Chandu, Karla

    Wed, Sep 28 2022

    Instead of Rupee now USD is on double engine growth...... very soon there more shocks to common people with the hike in fuel prices resulting out of USD appreciation. But our Superman can bring the dollars in line to Rs 15 per USD as promised eight years ago. Anyway nothing to worry, we are on right track in becoming number one super power of the world and 25 trillions dollar economy.... until then enjoy the circus.

    DisAgree [1] Agree [10] Reply Report Abuse

  • Flavian, Mangalore/Kuwait

    Wed, Sep 28 2022

    Shankar Jap yen was around 125 against dollars Ts 8 against dollar 1n 1976. Just compare pro rata loss. We cannot compare Japans export and their ecomomy with Indias growth

    DisAgree [7] Agree [10] Reply Report Abuse

  • Rolf, Dubai

    Wed, Sep 28 2022

    Dear Bjp spoke person please call press conference and say above news is fake done by Congress bakth will belive your vote bank is safe

    DisAgree [4] Agree [15] Reply Report Abuse

  • Sameer, Riyadh

    Wed, Sep 28 2022

    RBI in last 2 months has sold 100 billion dollar of forex reserves. Still dollar going strong. Now tired of selling they have left it in Gods hand like FM said. Abb bechne ke liye kya bacha hai?

    DisAgree [3] Agree [12] Reply Report Abuse

  • David Pais, Mangalore

    Wed, Sep 28 2022

    chaiwala is competing to overtake dollar rate 2 rupee rate 2 da age of dr. mammogram singhji's

    DisAgree [4] Agree [12] Reply Report Abuse

  • Shankar, Mangaluru

    Wed, Sep 28 2022

    1 USD = 144.75 Japanese Yen. Is Japanese economy weaker than India's???

    DisAgree [35] Agree [2] Reply Report Abuse

  • Tausif, Mysore

    Wed, Sep 28 2022

    BJP achievement but wait they said they will bring Rupee-Dollar difference from 62 to 1. The couldn't even with cheap Russian oil shows current government is like "Bandar ke haath me nariyal". But blame here is on those who voted them.

    DisAgree [1] Agree [16] Reply Report Abuse

  • ca girishkk, valencia/m'lore

    Wed, Sep 28 2022

    No doubt... All NRI's vote will go to Ruling govt of the day (Double engine fame: one pulling forward while the second engine pulling backward), NRI's APEASEMENT...

    DisAgree [2] Agree [14] Reply Report Abuse

  • Suresh, Saudi

    Wed, Sep 28 2022

    My vote is for pure bjp only even if 1$=1000 rs/- we are 5 trillion dollar economy with bullet trains everywhere only because of Meodiji

    DisAgree [19] Agree [4] Reply Report Abuse

  • Alfria, Manglore/Mumbai

    Wed, Sep 28 2022

    Rupee girtha hai toh desh ki saakh girti hai yeh kisne kha 2014 mein. And where is that joker anna who said dollar will only rs 15/- after bjp comes to power.

    DisAgree [3] Agree [21] Reply Report Abuse

  • Rudolf Rodrigues, Mumbai

    Wed, Sep 28 2022

    CEO is busy paying tributes and renaming and erecting statues!

    DisAgree [2] Agree [27] Reply Report Abuse

  • Gibbs, Udupi/Bengaluru

    Wed, Sep 28 2022

    Where is Irani & Kateel of BJP??? Why don't they defend $$$$$$ Dollar against Rupeeee??? Both are wise ECONOMISTS!!!

    DisAgree [1] Agree [31] Reply Report Abuse

  • Flavian, Mangalore/Kuwait

    Wed, Sep 28 2022

    There is no more dangerous menece to civilization than a government of incompetent, currupt, or vile men. Bad leaders believe that, they have project control at all times. Bad system can destroy good people Vote for BJP even if 1 $ equals Rs 200 Petro Rs. 150 Mutton Rs. 2,000.-

    DisAgree [5] Agree [25] Reply Report Abuse

  • Dylan, Mangalore

    Wed, Sep 28 2022

    Next general election it will score a maiden century. Now what happens to Mangalore MP Nalin Kumar Kateel. A few years back was talking about 1USD = ₹15/- it was by mistake fogot about the one hundred, he wanted to say ₹ 115/-. Excuse him please we know about the background.

    DisAgree [1] Agree [28] Reply Report Abuse

  • Flavian, Mangalore/Kuwait

    Wed, Sep 28 2022

    Chai Economy ! Modi knows only to send bullet trains and 40 Lac Crores black money, senseless demonetization, Erecting Thousands of crore worth statues. 5 Trillion Dollar economy, giving lectures in the filed of economy and Finance in foreign countries. Where is black money disappeared? Where is Bullet train, Where is promised 15 Lacs Rs ? still blame Congress rule, World economy , Terrorism and internal sleeping ISIS. Even the weather conditions are going helter skelter, Covid 19 took another toll on people, Taxes & taxes, the only hopes left for the government.

    DisAgree [4] Agree [18] Reply Report Abuse

  • Flavian, Mangalore/Kuwait

    Wed, Sep 28 2022

    In the history of our country under BJP rule ! Rs. 100 not far away. question of few more days. ! All the UN compensation money is intact and I did not convert so far. Low interest rate but when the rupee is low $ 1 = Rs. 100 I will make best use of the opportunity. Vote for BJP - Jai Hind 👏 Bhaiyo aur Behanoh vote zaroor dena. Ache din zaroor banahunga.

    DisAgree [4] Agree [14] Reply Report Abuse

  • John, Kinnigoli

    Wed, Sep 28 2022

    Please someone inform to Mr. Kateel,

    DisAgree [2] Agree [28] Reply Report Abuse

  • Gibbs, Udupi/Bengaluru

    Wed, Sep 28 2022

    John Bhai, Erreg Kateeeeeeeel Kaithal Ulleh!!!

    DisAgree [2] Agree [15] Reply Report Abuse

  • amith shetty, mangalore

    Wed, Sep 28 2022

    Onji choor arta aiji enk...:)

    DisAgree [3] Agree [11] Reply Report Abuse

  • Deshbhakt, Mangalore

    Wed, Sep 28 2022

    Madam Sitaram says that Indian Rupee is doing much better against US$ as compared to many other countries. I wonder which other - Srilanka ? Afghanistan ? Pak ? Does she mean that we Indians should be thankful for where the Rupee currently is ??? So fortunate that Bharat Mata has a minister of her calibre !

    DisAgree [3] Agree [25] Reply Report Abuse

  • Dylan, Mangalore

    Wed, Sep 28 2022

    Next general election it will score a maiden century. Now what happens to Mangalore MP Nalin Kumar Kateel. A few years back was talking about 1USD = ₹15/- it was by mistake fogot about the one hundred, he wanted to say ₹ 115/-. Excuse him please we know about the background.

    DisAgree [1] Agree [9] Reply Report Abuse

  • prakash, Manipal

    Wed, Sep 28 2022

    Worry is not the slide in rupee... Worry is we are in wrong hands to face the situation... Recent overly slide shows deteriorating international confidence on the ability of current regime and RBI top brass... We have a rubber stamp RBI who is playing to the tunes of a spoilt child called PM office... First they squeezed reserve money... Then ordered to defend rupee thereby eroding the very essential foreign reserves... We as a nation are not far away from dire financial breakdown if precipitarial prudence of RBI bosses is thwarted due to ego and head strong attitude of the PM/FM combination...

    DisAgree [3] Agree [25] Reply Report Abuse


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