The Indian rupee faced a weaker start against the dollar, opening at 82.27, down 34 paise in response to a weak market environment. In the previous day’s trade, the rupee had closed at 81.93 against the dollar.
As of 11:20 am, the rupee was trading at 82.26, down 31 paise against the dollar. The day’s high for the rupee stands at 82.34, while the day’s low is at 82.18.
Indian Rupee Weakens Against Dollar: Opens at 82.27, Down 34 Paise
The dollar index has crossed the 101.50 mark and continues to rise for the second consecutive week, with an overall increase of about 2% in two weeks. Presently, the dollar index’s day high is at 101.91, while the day low is at 101.65.
Dollar Index on the Rise: Crosses 101.50 Mark
Better-than-expected GDP figures and concerns over the European Central Bank’s RATE HIKE have led to uncertainties in the currency market. Additionally, the Bank of Japan is about to decide on interest rates today, with news suggesting possible changes in Japan’s central bank’s rate policy.
Other Asian currencies are exhibiting mixed performance against the dollar. The Japanese yen gained 0.25%, the Thai baht gained 0.2%, and the Chinese yuan saw an increase of 0.19%. Meanwhile, the Singapore dollar rose by 0.08%, the Taiwan dollar declined by 0.66%, the Malaysian ringgit by 0.49%, the Philippine peso by 0.47%, and the Indonesian rupiah by 0.4%.