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Rupee crashes to 83 on Wednesday, hitting the lowest record against US dollar

The rupee opened at 82.32 on Wednesday morning. It dropped 69 paise during the intra-day trade to end at the record low. 

Rupee crashes to 83 on Wednesday, hitting the lowest record against US dollar

New Delhi: Rupee crashed to 83 on Wednesday, hitting the lowest record against US dollar. It has surpassed the psychological mark to settle amid the outflow of foreign capital from India and high inflation in the global market. It has seen the dip of 61 paise to close at 83.01.

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The rupee opened at 82.32 on Wednesday morning. It dropped 69 paise during the intra-day trade to end at the record low. Rising crude prices in the international markets and risk-averse sentiment among investors weighed on the local currency, traders said.

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The rupee has fallen over 10% in the last two years. On Nov, 2021, the rupee exchange rate against the green back was around 73. 904. The rupee crossed the psychological barrier of 80 against the US dollar in July the first time in the record.

Sensex closed on positive note

Benchmark stock indices Sensex and Nifty closed higher on Wednesday, rallying for the fourth straight session helped by buying in index majors Reliance Industries and HDFC twins. The 30-share BSE Sensex rose by 146.59 points or 0.25 per cent to settle at 59,107.19. During the day, it rallied 439.09 points or 0.74 per cent to 59,399.69. The broader NSE Nifty advanced 25.30 points or 0.14 per cent to end at 17,512.25.

From the Sensex pack, Nestle, HDFC, Axis Bank, Reliance Industries, ITC, HDFC Bank and UltraTech Cement were the prominent winners. NTPC, State Bank of India, Bajaj Finserv, HCL Technologies, Dr Reddy's, Infosys and Maruti were among the laggards.

The 30-share BSE Sensex gained 146.59 points or 0.25 per cent to end at 59,107.19, while the broader NSE Nifty advanced 25.30 points or 0.14 per cent to 17,512.25. 

(With Agencies Input)

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