Rupee Falls To 82.72 Against Resurgent Dollar As Risk Appetite Declines

HomeEconomicsRupee Falls To 82.72 Against Resurgent Dollar As Risk Appetite Declines

Published on

October 31, 2022

Rupee Falls To 82.72 Against Resurgent Dollar As Risk Appetite Declines
As risk sentiment deteriorated ahead of important central bank meetings this week, including the Federal Reserve, the rupee reversed early gains to end lower versus the dollar on Monday.
The local currency rose to 82.3237 before dipping to 82.7225 versus the dollar.
“As oil corporations bought dollars to hedge their USDINR bets, sellers were hammered at 82.50. As the yuan breached 7.31 per dollar, Asian currencies fell “said Finrex Treasury Advisors Head of Treasury Anil Kumar Bhansali.