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Rupee falls 7 paise to 79.33 against US dollar

On the interbank forex market on Monday, the rupee opened 7 paise lower at 79.33 against the US dollar.

HIGHLIGHTS

  • Rupee has shed around six per cent of its value against the US dollar
  • Sensex fell 0.45 per cent or 242.52 points
  • Nifty was down 0.36 per cent to 16,162.05

The rupee fell to 79.33 against the US dollar in early trade on Monday even as the Reserve Bank of India (RBI) has announced measures to liberalise foreign exchange inflows.

On the interbank forex market on Monday, the rupee opened 7 paise lower at 79.33 against the American currency, PTI reported.

Meanwhile, on the domestic market, the sensex fell 0.45 per cent or 242.52 points to 54,239.32, while the nifty was down 0.36 per cent or 58.55 points to 16,162.05.

The rupee has shed around six per cent of its value against the US dollar since the beginning of this year. Amid high inflation and the current account deficit, the rupee continues to fall against the US dollar.

Even as the RBI’s intermittent dollar selling helped limit losses, higher global crude oil prices and steady capital outflows have widened its current account deficit, which in turn, has dragged down the rupee, as per a Reuters report.

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