Indian rupee hits new low, slips below 81-mark against US dollar for the first time ever
Indian rupee
The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time ever in early trade on Friday, weighed down by the strong American currency and risk-off sentiment among investors.
Forex traders said escalation of geopolitical risk inUkraineand rate hikes by the USFedand Bank ofEnglandin a bid to containinflationsapped risk appetite.
Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
At the interbank foreign exchange, the rupee opened at 81.08 against the greenback, then fell further to 81.23, registering a fall of 44 paise over its previous closing.
Also read |Indian External Affairs Minister S Jaishankar attends BRICS ministerial meet on sidelines of UNGA
On Thursday, the rupee plunged by 83 paise — its biggest single-day loss in nearly seven months — to close at an all-time low of 80.79 against the US dollar.
&im=FitAndFill=(700,400))
National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides
)
The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS
)
Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent
)
India names 27 sites in Arunachal Pradesh
)
Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?
&im=FitAndFill=(700,400))
How many soldiers operate one S-400 battery?
)
Shakib Al Hasan ready to return to Bangladesh—under one condition
)
‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal
)
Rockstar to unveil GTA 6 extended look ahead of November launch
)
Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine
)
Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states
)
Technology transfer deal boosts India's defence manufacturing ambitions
)
Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy
)
Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS
)
'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia
)
Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside
)
Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift
&im=FitAndFill=(700,400))
New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more
)
Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot
)
RSS says Gen Z protests reflect genuine distress
)
Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'
)
IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act
)
Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott
&im=FitAndFill=(700,400))
Why the Su-30MKI doesn't need external fuel tanks to fly vast distances
)
Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation
)
New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know
)
India officially names 27 places in Arunachal to counter China's renaming claims
)
Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed
)
US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance
&im=FitAndFill=(700,400))
Why the Su-30MKI is one of the heaviest fighters ever built
)
Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH
)
Chilling video shows students take cover as teen opens fire at Thai school
)
Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report
TheBank of England hikedits base rate by 50 basis points (bps) to a 14-year high of 2.25 per cent.
The Bank of Japan intervened in the FX market for thefirst time in 24 yearsto stem a falling Yen after it kept rates at record lows, IFA Global Research Academy said, adding that the Swiss National Bank hiked rates by a record 75 bps to 0.5 per cent.
The US Fed has hiked interest rates by 75 basis points to 3-3.25 per cent.
On Thursday, RBI was conspicuous by its absence from the spot market as the rupee fell by 1 per cent possibly as it wanted the rupee to do the catching up, said Anil Kumar Bhansali, head of rreasury, Finrex Treasury Advisors.
“All major events are over for this month as we await RBI’s MPC to give its verdict on September 30, 2022,” Bhansali added.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.05 per cent to 111.41.
Global oil benchmark Brent crude futures fell 0.57 per cent to USD 89.94 per barrel.
On the domestic equity market front, the 30-shareBSE Sensex was trading558.59 points or 0.94 per cent down at 58,561.13, while the broader NSE Nifty fell 153.10 points or 0.87 per cent to 17,476.70.
Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 2,509.55 crore, as per exchange data.