Indian Rupee Settles At All-Time Low Against Dollar

Published on Aug 18, 2023 16:52

The Indian rupee stayed bounded all through trading today and ended marginally lower by 1 paisa to settle at an all-time low of 83.10 (provisional) against the US dollar in the spot currency market on Friday. Negative trend in domestic equities and foreign fund outflows weighed on the domestic unit. Besides, an elevated dollar overseas and risk aversion in global markets further added pressure on the local unit. At the interbank foreign exchange, the domestic unit opened at 83.03 against the dollar and moved in a range of 83.02 to 83.13 in the day trade. It finally ended the day at 83.10 (provisional), registering a fall of 1 paisa from its previous close. On the NSE futures, USDINR August contract was marginally up on the day to end at 83.13.