Reports added that the value of the indian Rupee has fallen to an all-time low. The firming value of the US dollar and rising crude oil prices are attributed to this. The indian rupee depreciated for the fourth consecutive day against the US dollar, registering a record low. The indian rupee fell 9 paise to touch an all-time low of 83.22 on Thursday. This is attributed to the firm value of the US dollar and rising crude oil prices. A positive trend in domestic equity markets is a comfort to the rupee's slippage, according to forex traders. Crude oil prices rose above $90 a barrel after oil-producing countries agreed to extend supply cuts until december this year.
In today's forex trade, the indian rupee opened at 83.15 against the dollar. Traded between 83.12 to 83.22. The indian rupee ended at a record low of 83.22 against the dollar. It registered a fall of 9 paise over the previous close of trade. On Wednesday, the rupee fell 9 paise to 83.13 against the dollar. Earlier, on august 21 as well, the indian rupee stood at 83.13 against the dollar.
"Strong dollar and higher crude oil prices have had a negative impact on the rupee. Worries about global economic growth may also be the reason for the depreciation of the rupee," say experts. Meanwhile, Brent crude was trading 0.39 percent lower at US$90.25 a barrel. In domestic bourses, the benchmark Sensex ended 385.04 points or 0.58 per cent higher at 66,265.56. The Nifty closed up 116 points, or 0.59 per cent, at 19,727.05 points.
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