Rupee declines below Rs 83 against US dollar
1 min readA day earlier than Independence Day, Indian Rupee on Monday declined below Rs 83 to an US dollar, the bottom since October 2022.
The strengthening of the dollar against the Indian rupee is attributed to a rise within the US dollar index to 103 and the US bond yield to about 4.18 per cent.
Increasing demand for crude oil additionally added strain on the Indian forex.
The rupee traded within the morning at Rs 83.06 against the earlier closing worth of Rs 82.84 and later touched Rs 83.11.
Last October, the Indian forex touched a low of Rs 83.08.
The rupee later recovered to Rs 82.95 probably with the intervention of the general public sector banks that offered {dollars}.
(With inputs from IANS)
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