The rupee settled at a record low against the US dollar of 78.33

The local currency started out in the interbank foreign exchange market at 78.20 and ended up closing at its all-time low of 78.33, down 1 paisa from its previous close.

On June 24, the rupee lost 1 paisa and finished the day at an all-time low versus the US dollar of 78.33 (provisional). The local currency started out in the interbank foreign exchange market at 78.20 and ended up closing at its all-time low of 78.33, down 1 paisa from its previous estimate.

The local unit’s intraday high and low values in relation to the US dollar throughout the day were 78.19 and 78.35, respectively. The rupee’s value versus the US dollar on Thursday was 78.32.

The dollar index, which measures the strength of the US currency in relation to a basket of six different currencies, fell 0.25 percent to 104.17.Brent crude futures rose 1.13 percent to USD 111.29 per barrel, the global oil benchmark.

The BSE Sensex closed 462.26 points, or 0.88 percent, higher at 52,727.98 on the domestic equity market, while the larger NSE Nifty advanced 142.60 points, or 0.92 percent, to 15,699.25.

According to stock exchange data, foreign institutional investors continued to be net sellers in the capital market on Thursday, selling shares worth Rs 2,319.06 crore.

The Central Bank will not allow “jerky fluctuations” of the rupee, according to Reserve Bank Deputy Governor Michael D. Patra, who also emphasised that the Indian currency has experienced the least depreciation recently. “We are defending its stability right now, and we will continue to do so.” We are in the marketplace. Unorderly motions are not permitted. Although we don’t have a level in mind, we will undoubtedly prevent jerky movements and let it be known that we are in the market protecting the rupee from volatility, “said he.

Patra went on to say that the rupee has depreciated one of the least in the world, demonstrating the strength of the USD 600 billion in reserves.