Rupee edges lower to 79.75 against US dollar

Rupee edges lower to 79.75 against US dollar
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By Asmita Pant  Aug 19, 2022 2:11 PM IST (Published)

The rupee depreciated by eight paise to touch 79.75 against the US dollar on Friday amid strength in dollar. Cooling oil prices, however, yielded support.

The rupee depreciated by eight paise to touch 79.75 against the US dollar on Friday amid strength in dollar. Cooling oil prices, however, yielded support.

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The dollar index — which measures the US dollar against a basket of currencies — rose 0.2 percent.
Crude oil prices fell on Friday amid recession fears and possible output increase by OPEC+.
Brent crude futures slumped 3.7 percent to $93.1 a barrel and West Texas Intermediate (WTI) futures were 0.9 percent down at $89.7 a barrel.
Indian equity benchmarks opened in red mirroring largely negative cues from global markets.
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