The previous all-time closing low for the rupee was 83.34 per dollar on November 10. On the same day, the rupee had reached a record low of ₹83.48 intraday against the dollar.
The dollar index, measuring the greenback's strength against a basket of six major currencies, fell to 103.57 from 104.16 on Friday. The dollar weakened as markets anticipated that US interest rates might have peaked, closely watching for signs of the US Federal Reserve (Fed) easing monetary conditions.
"There was demand for the dollar from importers," said Amit Pabari, managing director at CR Forex.
"The Reserve Bank of India was absent from the market on Monday," he added.
The local currency is expected to trade in the range of ₹83.1 to ₹83.45 per dollar in the current week.
この記事は Business Standard の November 21, 2023 版に掲載されています。
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この記事は Business Standard の November 21, 2023 版に掲載されています。
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