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Rupee depreciates to 81.84 vs dollar

Rupee depreciates to 81.84 vs dollar

Rupee depreciates to 81.84 vs dollar
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By Sangam Singh  Nov 21, 2022 3:57:01 PM IST (Updated)

Rupee ended 15 paise lower from its previous close amid strength in greenback. Global crude oil benchmarks slipped to near two-month low yielding support to the currency.

Rupee ended 15 paise lower from its previous close at 81.85 vs US dollar on Monday as the value of greenback gained strength against a basket of six peers. Global crude oil benchmarks, however, eased to its two months low. The currency started the session lower at 81.85 vs dollar.

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The dollar index — which measures the American currency against the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc and the euro — was last trading marginally higher at 107.1 at the last count.
Global crude oil benchmarks, on Monday, fell to near two-month low amid demand worries fueled by China's COVID situation and rising interest rates. Brent crude futures were down 1.1 percent at $86.7 per barrel at the last count. WTI futures were also trading 0.9 percent lower at $70.4 per barrel.
"The future trend of the pair will be guided by the development of global and domestic factors. On the central bank’s intervention side, it is estimated that they have bought approximately $8 billion from the market in less than 30 days, majorly they might have bought in the range of 80.50-81.00 zone," said Amit Pabari, Managing Director at CR Forex Advisory.
Indian equity benchmarks BSE Sensex and NSE Nifty50 started the session lower on Monday amid mixed global cues.
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