Rupee falls 10 paise to hit new record low of 85.25 against US dollar in early trade

Mumbai, Dec 26: The rupee depreciated 10 paise to hit a new all-time low of 85.25 against the US dollar in early trade on Thursday, dragged down by the unabated outflow of foreign capital amid increased month-end demand of the American currency.

Positive sentiment in domestic equity markets failed to support the Indian currency as the greenback index remained elevated while crude oil prices were on upward move, forex traders said.

At the interbank foreign exchange, the rupee opened weak at 85.23 and slipped further to hit a life-time low of 85.25 against the greenback in initial deals, registering a loss of 10 paise against its previous closing level.

On Tuesday, the rupee fell 4 paise to settle at a record low of 85.15 against the US dollar. The forex markets were closed on Wednesday for Christmas.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally lower by 0.11 per cent but remained elevated at 107.90, amid soaring US Treasury yields and the fear of delayed interest rate cuts by the US Federal Reserve.

Brent crude, the global oil benchmark, rose 0.38 per cent to USD 73.86 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index Sensex was trading higher by 335.63 points, or 0.43 per cent at 78,808.50 points. The Nifty was up 103.55 points, or 0.44 per cent, at 23,831.20 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 2,454.21 crore, according to exchange data.(PTI)

Hot this week

Pay hike of Assam ministers, MLAs likely as 3-member panel submits report

Full report likely by Oct 30 Guwahati Sept 25: There...

Meghalaya Biological Park Inaugurated After 25 Years: A New Chapter in Conservation and Education

Shillong, Nov 28: Though it took nearly 25 years...

Meghalaya man missing in Bangkok

Shillong, Jan 10: A 57-year-old Meghalaya resident, Mr. Treactchell...

ANSAM rejects Kuki’s separate administration demand, says bifurcation not acceptable

Guwahati, Sept 8: Rejecting the separate administration demand of...

Meghalaya’s historic fiber paves the way for eco-friendly products and sustainable livelihoods

By Roopak Goswami Shillong, Oct 25: From making earbuds to...

Physical education to be core subject in schools, colleges 

Education minister admits physical education neglected for long in...

NPP strength goes up in Manipur  

Several senior leaders join NPP at Kohima prog   “NPP was...

Meghalaya, Assam NGOs share knowledge on agro-ecological practices

Shillong, June 28: A capacity-building workshop titled “Learning from...

Garukhuti in crisis: Crores spent, cows missing, questions unanswered

Guwahati, June 28: Confusion continues to mount over the...

Bishop’s call to ‘help one addict at a time’

Shillong, June 28: International Day against Drug Abuse and...

Govt plans competition to grow cherry blossom trees

Shillong, June 28: In its bid to ensure public...

13 killed in suicide attack in Pak’s Khyber Pakhtunkhwa

Peshawar, Jun 28: At least 13 security personnel were...
spot_img

Related Articles

Popular Categories

spot_imgspot_img