RBI Deputy Governor said the Central Bank will not allow 'jerky movements' of the rupee and stressed that the Indian currency has witnessed the least depreciation in recent times.
At the interbank foreign exchange, the rupee opened at 78.20 against the American dollar. In initial trade, the local currency witnessed a high of 78.19 and a low of 78.24 against the US dollar.
At the interbank foreign exchange market, the local currency opened at 78.26 and finally settled at its all-time low of 78.32, unchanged from its previous close.
At the interbank foreign exchange, the rupee opened at 78.26 against the American dollar, then inched higher to quote at 78.23, registering a rise of 9 paise from the previous close.
Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs 2,701.21 crore.
At the interbank forex market, the local unit opened strong at 77.98 against the greenback and witnessed an intra-day high of 77.87 and a low of 78.03.
The BSE benchmark declined by 135. 37 points to 51,360. 42 while the NSE Nifty went lower by 67.10 points to end at 15,293.50.
A strong dollar overseas and higher crude prices kept the Rupees under pressure apart from the unabated foreign capital outflows and muted trend in domestic equities, the forex dealers said.
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The price of ATF has been hiked by 16.3% to an all-time high of Rs 1.41 lakh per kilolitre in Delhi. ATF price has nearly doubled in the calendar year 2022, up 91% in the last six months.
At the interbank foreign exchange, the rupee opened strong at 78.06 against the US dollar, then inched lower to quote 78.07, registering a rise of 15 paise over the last close.
At the interbank foreign exchange market, the local currency opened at 77.99 and finally settled at its all-time low of 78.17, down 13 paise over its previous close of 78.04.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.05 per cent to 105.02.
An expert noted that US treasury yields rose after June 10's inflation shock raised speculation of a more aggressive rate hike from the Federal Reserve meet.
Inflation has also jumped in India owing to the fallout from the Ukraine war, overshooting the central bank's two-to-six percent target range from January to April.
Forex traders said that persistent foreign capital outflows, elevated global crude oil prices and risk-averse sentiments also impacted the domestic unit.