The Rupee fell 39 paise to an all time low of 82.69 against the US dollar, on Monday, mainly due to high crude oil prices, negative trend in domestic equities and risk-averse sentiments prevailing among investors.
On Friday, the Rupee had depreciated further by 13 paise to reach a closing low of 82.30 against Dollar. However, on Monday, the Indian currency fell to an all time low of 82.69 against US dollar.
At the Interbank Foreign Exchange, the Rupee opened at 82.68 against the greenback, then fell further to 82.69, thereby falling 39 paise over its previous close.
India’s Forex Reserves dropped by USD 4.854 Billion to USD 532.664 Billion as on September 30, according to RBI.
After having exhausted a significant portion of its reserves, RBI seems concerned about the burn rate of reserves and appears to be spending them judiciously. This has resulted in the Rupee adjusting and aligning itself with fundamentals and its peer group currencies, said experts.
The Dollar index, which measures the greenback’s strength against a basket of currencies, was trading 0.02 per cent up at 112.81.
