Today, the Indian Rupee falls 12 paise and closed at a low record of 78.05 against US dollar. However, on Friday, the currency closed at 77.93 which is the weakest level to the dollar.
ANI, on its official Twitter handle posted, “Rupee falls 12 paise to close at record low of 78.05 (provisional) against US dollar”.
Rupee falls 12 paise to close at record low of 78.05 (provisional) against US dollar
— Press Trust of India (@PTI_News) June 13, 2022
Consequently, the fall was due to the increased flight-to-safety wages jumped in US inflation. It has raised thoughts over the Federal Reserve using to high rate.
The increasing food and energy prices has risen the year-on-year gain in US consumer prices. It is expected thG inflation will be slowed down.
Also, due to the weak value of Asian currencies and the steady foreign capital outflows the rupee value went down.
Consequently, the dollar value has increased on Monday. The US treasury yields increased after the inflation shock on Friday. Initially, the Brent crude futures and the global oil’s benchmark updated to 0.51 per cent to 123.70 per barrel.
