Business Standard

After falling to record lows, rupee regains footing against US dollar

RBI's interventions and a less hawkish view on US Federal Reserve among factors that help currency

Indian rupee
Premium

The depreciation over 37 days is even starker when one considers that the rupee shed 7.1 per cent versus the dollar from January 1 to July 21.

Bhaskar Dutta Mumbai
The rupee is holding ground after depreciating rapidly against the US dollar over the last seven weeks, as targeted interventions by the Reserve Bank of India (RBI) and other factors give it strength.

The Indian currency on July 21 fell to 80.06 against the dollar, breaching the psychologically significant 80 per dollar mark for the first time two days earlier.

But since then the rupee has not crossed that mark and instead gained ground. It was at 79.78 per dollar a little before 11am on Tuesday.

In two trading days since July 21, the domestic unit has strengthened 0.3 per

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in