{"id":5674,"date":"2024-12-24T17:11:54","date_gmt":"2024-12-24T11:41:54","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=5674"},"modified":"2024-12-24T17:11:56","modified_gmt":"2024-12-24T11:41:56","slug":"rupee-declines-9-paise-to-hit-a-fresh-record-low-of-%e2%82%b985-20-against-the-us-dollar","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/rupee-declines-9-paise-to-hit-a-fresh-record-low-of-%e2%82%b985-20-against-the-us-dollar\/","title":{"rendered":"Rupee Declines 9 Paise to Hit a Fresh Record Low of \u20b985.20 Against the US Dollar"},"content":{"rendered":"\n

The Indian rupee continued its downward slide for the second consecutive session, falling by 9 paise to close at a new all-time low of \u20b985.20 against the US dollar on Tuesday. This depreciation was attributed to a strong US dollar in global markets, subdued domestic equity performance, and surging crude oil prices.<\/p>\n\n\n\n

Analysts attributed this strength of the greenback to increased dollar demand for month-end payment obligations and apprehensions over aggressive US import tariffs. The surging crude oil prices added to the pressure on rupee.<\/p>\n\n\n\n

The rupee opened at \u20b985.10 and touched an intraday low of \u20b985.21 before settling for the session at \u20b985.20, down 9 paise against the previous close of \u20b985.11 in the interbank Forex market.<\/p>\n\n\n\n

FII outflows have added to the downside pressure on the rupee. However, Choudhary hinted that partial intervention by the RBI might provide support at lower levels. The USD-INR spot price is expected to trade between \u20b985 and \u20b985.40. The US dollar index-which measures the greenback’s performance against a basket of six major currencies-was up 0.11% at 107.93, supported by soaring US Treasury yields and expectations for delayed interest rate cuts by the Federal Reserve.<\/p>\n\n\n\n

Meanwhile, brent crude, the global variant of oil, inched up 0.69% to quote at $73.13 per barrel in the futures market, putting extra pressure on the Indian currency.<\/p>\n\n\n\n

Domestic Equity Performance<\/h3>\n\n\n\n

The domestic equity market also faced losses, with the BSE Sensex declining by 67.30 points (0.09%) to close at 78,472.87. Similarly, the NSE Nifty fell by 25.80 points (0.11%) to end at 23,727.65.<\/p>\n\n\n\n

FIIs were net sellers in the Indian capital markets on Monday, offloading shares worth \u20b9168.71 crore, as per exchange data.<\/p>\n\n\n\n

Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com<\/a>.<\/p>\n\n\n\n

Source: Moneycontrol<\/a><\/sub><\/sup><\/p>\n","protected":false},"excerpt":{"rendered":"

The Indian rupee continued its downward slide for the second consecutive session, falling by 9 paise to close at a new all-time low of \u20b985.20 against the US dollar on Tuesday. This depreciation was attributed to a strong US dollar in global markets, subdued domestic equity performance, and surging crude oil prices. Analysts attributed this […]<\/p>\n","protected":false},"author":1,"featured_media":5675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[851],"class_list":["post-5674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-rupee-declines"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=5674"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5674\/revisions"}],"predecessor-version":[{"id":5676,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5674\/revisions\/5676"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/5675"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=5674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=5674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=5674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}