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Rupee posts another new low against US dollar, but fares better than peers

The rupee's decline on Wednesday was less than that of other major Asian currencies, likely thanks to the RBI's intervention

Indian rupee
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Photo: Bloomberg

Reuters Mumbai
The Indian rupee hit a new low against the dollar on Wednesday, though the fall was less than at its Asian peers', as the relentless surge in Treasury yields and the dollar index showed no signs of letting up.
 
The rupee closed at 81.94 per U.S. dollar, down from 81.58 in the previous session. It reached a new low of 81.95.
 
It is the fourth time in five sessions that the local unit has notched up it worst level against the dollar ever, dropping to almost 82 from 80 in a space of a week.
 
The Reserve Bank of India

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First Published: Sep 28 2022 | 4:25 PM IST

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