As a consequence, the rupee hits an 8-week low against the dollar. All of these factors must be considered, as well as Omicron size variations. On Monday, the rupee fell 28 paisa to a two-month low of 75.40 rupees to the dollar. The rupee’s value now exceeds the Reserve Bank of India’s monetary policy announcement on Wednesday.
The rupee fell sharply due to the loss of local inventories, rising oil prices, and a stronger currency.
Fears of an Evergrande default sent the Sensex and Nifty both below 17,000 points. Analysts say the financial markets have resumed a deadly struggle between bulls and bears. The BSE Sensex fell 1.65% (284 points) to 16,912 points, after losing 949 points the day before to 56,747 points. The rupee hit an intraday low of 75.45. This is the lowest level since October 12th. The lowest level since October 12 is 75.40.
The dollar index rose 0.11 percent to 96.2240, but its strength against other currencies is…